Fizzy Drinks Inc. decided to generate new sales by being the lowest price competitor in the soft drink market so as to attract customers away from higher-priced producers. What company objective does this reflect

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18-11-2021
Business

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Fizzy Drinks Inc. decided to generate new sales by being the lowest price competitor in the soft drink market so as to attract customers away from higher-priced producers. What company objective does this reflect

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Tundexi Tundexi · Answer 1 · 2021-11-26T12:30:53+01:00

Here, the company objective does best reflect the competitor-oriented type of pricing.

The process of fixing/determining a product price is very important in an organziation because it takes into consideration the cost incurred and profitability.

The competitor-oriented type of pricing is a pricing approach that considered its pricing based on other competitors price.

Therefore, the process of Fizzy Drinks Inc in deciding to be the lowest price competitor in the soft drink market is an example of competitor-oriented approach of pricing.

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