The previous article discussed that businesses should be cautious about engaging in price wars, and has already explained the advantages and disadvantages of price wars fairly clearly. The reason why companies tend to favor price as a weapon is mainly due to two factors: first, compared to other competitive tactics, price wars are simple and easy to implement; second, different competing companies have varying levels of strength and basic conditions. Among them, some companies have the ability and willingness to forgo short-term interests, initiating price wars to deliver fatal blows to competitors with weaker strength. In addition to the price weapon, other competitive tactics can also be very effective in competition.
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