A retail store that offered its customers continuous stable prices,as opposed to the lowest prices available in the market is using a(n)_____________ strategy.
A) low price guarantee
B) penetration pricing
C) EDLP
D) price skimming
E) high/low pricing

Question

Quizplus · Accepted Answer

EDLP, or Everyday Low Pricing, is a pricing strategy where a retailer offers consistently low prices on products rather than temporary discounts or promotions. This approach differs from high/low pricing, where products are initially priced higher and then marked down during sales events. It also differs from penetration pricing, where a new product is offered at a lower price than competitors to gain market share, and price skimming, where a new product is introduced at a high price and gradually lowered over time. The EDLP approach is known for providing predictability and consistency for customers, as well as creating a sense of trust and loyalty.

A Retail Store That Offered Its Customers Continuous Stable Prices,as