Question
In: Finance
comparaison of the prices of the different big brands and of a local shop
comparaison of the prices of the different big brands and of a
local shop
Solutions
Expert Solution
There is a difference in price of a big brand and a local shop because big brand will always be offering higher benefits to the customer and local shop cannot offer those benefits due to scale of its operations.
Prices at Big brands will always be relatively lower as they can provide with huge discounts and prices at local shop would be higher as they cannot provide with any kind of discount as they do not have the liberty of having higher profits and promotional strategies.
Big brands relatively have an advantage due to the area of operation and the loyal base of its consumer and it can give multiple benefits but it can also charge heavily from those consumers and the prices keeps on fluctuating.
Where as the prices at the local shop will always be dependent upon the demand and the supply and the prevailing market condition and it is not stringent and it is highly negotiable because they do not have the upper hand while fixation of the price because they do not have the brand advantage.
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