Rather than cutting prices to generate sales, most firms would be better off adjusting their marketing strategy to:
A) build value into the product and justify the current price or even a price increase.
B) decrease the supply of the product to keep prices high.
C) heavily promote the product to stimulate sales.
D) move toward an exclusive distribution strategy to increase the product's image.
E) increase the availability of the product so more customers can purchase it.

Question

Quizplus · Accepted Answer

Cutting prices can be detrimental to a firm's profits and image, and it doesn't necessarily solve the underlying problem of low sales. Instead, adjusting the marketing strategy to emphasize the value of the product can justify the current price or even lead to a price increase. This can be done through improving the product's features, emphasizing its unique selling points, and targeting the right audience.

Rather Than Cutting Prices to Generate Sales, Most Firms Would