6 Pros and Cons of Using a Low-Price Strategy
Most of us have a natural tendency to settle for cheaper alternatives when we look for a product in the market. From business assignment help to furniture, the list is endless. In contrast, another affluent section believes that cheap products don’t guarantee quality and discards them straightway. But what do low prices mean for the economy, and what are the positives and negatives of using this strategy? Read along to know – Pros: · Increased sales volume This is the primary thought that believes marketers to set lower price tags. This is a tried and tested strategy where people always buy a product more if it costs lower than any rival brands. Some companies set lower rates for the initial period to skyrocket the business during the first few months before settling down for an increased rate. Read More: all assignment help · Faster TAT Faster turnaround time means lesser production costs for a company. If the existing stock gets cleared faster, they need to s...