Braden’s ice cream shop is losing business. He knows that customers are no longer choosing his product because a competing product has become less expensive, yet he has refused to lower his prices. What has happened to Braden’s business?

Respuesta :

Answer:

Affected by the pricing decision of its competitor

Explanation:

The business will have to lower its product's price because of competitor's similar quality products available at lower prices in the market. This will again help in recapturing the market share which Braden has loosen due to poor pricing decision making. Furthermore, the company must keep introducing new products over time to keep its prduct more attractive option to customers and will also help in increasing brand recognition.

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