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Communicate the high quality of product

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Reference no: EM132475085

FORCES ON COMPETITIVE PRICING

Firms need to take care when responding to competitor's action with a pricing change, as this could trigger a potential price war. For the below goals, identify what would be the most appropriate pricing reaction.

For each of the below situations, explain how the firm should respond; reduce prices, do not change prices, or increase prices. Identify your strategy and explain your answer.

a. To communicate the high quality of your product against a new competitor

b. The market that the firm operates in is deregulated, allowing more competitors to enter

c. A new substitute product emerges

d. The company experiences a major increase in production costs

e. Your executive team has a strong indication that key competitors will always price match your goods / services

f. To significantly increase market share

g. Your leading product is experiencing high seasonal demand

h. A major competitor has recently left the market

Reference no: EM132475085

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