Price can be used as a competitive weapon to gain or maintain market position.

Question

Quizplus · Accepted Answer

Price is one of the four elements of the marketing mix which can be used as a competitive weapon to gain or maintain market position. By offering lower prices, companies can attract price-sensitive customers and gain a competitive advantage over their rivals. Alternatively, companies can offer higher prices if they provide superior quality or value to their customers. Therefore, price is an important tool in the marketing strategy of a company.

Price Can Be Used as a Competitive Weapon to Gain