Question 1

You and your partner are debating about the pricing strategy for your new retail business which is about opening a Used Cars Showroom to deal with (sell & buy) used cars. She is insisting to go for Everyday Low Pricing (Customary Pricing Concept) while you are disagreeing on this decision. Hence, 1) you need first to educate her and make her aware about the checklist of selected decisions for the pricing strategy. Then 2) you need to clearly identify your best strategy concept choice and 3) try to convince her why your choice is far better than her choice and other available concepts especially for the business that you are intending to run. Finally, 4) you need to convince her that her choice is not the best among the other different concepts i.e. a one-price policy, flexible pricing, leader pricing, and price lining.