Traditional economic theory asserts that in a situation of perfect competition where there is perfect knowledge and perfect substitutes available, price is the primary basis of competition and the primary determinant of demand (Phillip Kotler, principles and practice of marketing). Required: A. Discuss the advantage and disadvantage of seeking competitive advantage through price.
Traditional economic theory asserts that in a situation of perfect competition where there is perfect knowledge and perfect substitutes available, price is the primary basis of competition and the primary determinant of demand (Phillip Kotler, principles and practice of marketing). Required: A. Discuss the advantage and disadvantage of seeking competitive advantage through price.
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Question
Answer Part A
![Traditional economic theory asserts that in a situation of perfect competition where there is
perfect knowledge and perfect substitutes available, price is the primary basis of
competition and the primary determinant of demand (Phillip Kotler, principles and practice
of marketing).
Required:
A. Discuss the advantage and disadvantage of seeking competitive advantage through price.
B. Explain the various pricing strategies available to a marketer launching a new product in
Zambia and make reference to examples of products that they would best fit.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcfbf8456-ba88-4544-ada4-19268bb1d390%2Fec648ca0-c9ba-49ca-984a-683c593d48ec%2Fdj090ah_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Traditional economic theory asserts that in a situation of perfect competition where there is
perfect knowledge and perfect substitutes available, price is the primary basis of
competition and the primary determinant of demand (Phillip Kotler, principles and practice
of marketing).
Required:
A. Discuss the advantage and disadvantage of seeking competitive advantage through price.
B. Explain the various pricing strategies available to a marketer launching a new product in
Zambia and make reference to examples of products that they would best fit.
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