A competitor of your pharmaceutical company is about to launch a product that will challenge one of your very profitable medications. At a marketing strategy meeting, one colleague recommends a preemptive price reduction to maintain market share. Discuss the pros and cons of this suggestion.© BrainMass Inc. brainmass.com March 4, 2021, 10:35 pm ad1c9bdddf
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The pros of a preemptive price reduction to maintain market share is that it may allow you to retain the current consumers that you have with your company as opposed to said consumers going to your competitors for similar products. Further, your consumers will be happier with the preemptive price reduction as it will ...
This solution provides the pros and cons in utilizing a preemptive price reduction in order to maintain market share.