Describe briefly different retail price strategies.

Retail price strategies are approaches used by retailers to set prices for their products or services. These strategies aim to maximize profits, capture market share, attract customers, or align with the retailer's brand positioning. Here are some common retail price strategies:

1. Everyday Low Price (EDLP):
   • In this strategy, retailers offer consistently low prices to consumers, aiming for cost efficiency, customer loyalty, and simplicity. It's associated with brands like Walmart.
2. High-Low Pricing:
   • Retailers set higher prices for products initially and then run promotions, discounts, or sales to attract price-sensitive customers. _____ _____ _________ ____ ________ ____ __________ _______ _________ _________.
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