Question: Marketers perform extensive analysis in order to set their prices effectively. One factor they have to strongly consider is the role of the internet. Traditionally,

Marketers perform extensive analysis in order to

Marketers perform extensive analysis in order to set their prices effectively. One factor they have to strongly consider is the role of the internet. Traditionally, we could assume that the average consumer would do very little (if any) price comparisons when they shop unless its for a high involvement product such as a car. Now, consumers are becoming more adept at price comparisons and now people can quickly find out the prices of nearly any product by going on websites such as http://www.pricegrabber.com/ If you search for nearly any product on a site like this you will be given a large number of sellers who offer the product at different prices. How do retailers who sell the same product at higher prices than the competition stay in business? What type of consumer is buying from high priced sellers? Do you think they will go out of business as the internet becomes more widely accessible or will there always be a market for them? Why

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