Synergy Corp. is large seller of energy-efficient bulbs that uses extensive promotional strategies to stimulate sales. Synergy has noticed that a competitor is doing well and is steadily gaining a large market share
The marketers at Synergy want to counter the competitor immediately by increasing the sales of its bulbs. What quick step can Synergy take to stimulate the sales of its products?
a. Change the pricing strategy
b. Adopt new production techniques
c. Enter into new supplier contracts
d. Adopt a divesting strategy
ANSWER: a
Synergy Corp. can vary its pricing strategy to immediately stimulate its sales. Price is an important competitive weapon, and is very important to the organization because price multiplied by the number of units sold equals total revenue for the firm.
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