MC Qu$.13$ Dryden$$s$,$ a chain of department stores...

Dryden$$s$,$ a chain of department stores across the United States, has several exclusive store brands including Comfies, a line of sports shoes. Comfies is a popular brand among regular store customers and they vouch for its quality being as good as other top brands. Facing competition from other stores, Dryden$$s reduces the prices on Comfies products by one$-$third. While it sold an average of $800$ units per day at a price of $$30$ per unit amounting to $$24,000$ before the discount, it sold $1,000$ units per day at $$20$ per unit, amounting to $$20,000$ after the discount. In analyzing this scenario, it can be said that

Multiple Choice

competing on product quality generates more sales than competing on price.

a product that is priced higher is perceived to be of a higher quality.

pricing is typically the most difficult marketing mix element to change.

a reduction in pricing does not necessarily increase overall revenue earned from a product.

customers$$ positive perception of a brand does not always translate to more sales.