Implications led to more sales of the products, they are being sold for less money per product, which might potentially result in shorter-term profits.
What is the meaning of price wars ?
A price war is a conflict between rival businesses that lower the prices of their goods in an effort to strategically undercut one another and get a larger market share. A price war may be implemented as a longer-term strategy or as a short-term tactic to boost sales.
In a Price Conflict Five Techniques That Might Work:
- To understand why you are engaged in this price war, do some study.
- Without reducing the price, add value to the good or service.
- If you can't further reduce your rates in the price war, advertise.
- Find a different strategy to differentiate out from the competition than price.
- Think about your brand.
Learn more about the price war:
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