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The Standard Group Plc is a
multi-media organization with investments in media platforms spanning newspaper
print operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a leading multi-media house in Kenya with a key
influence in matters of national and international interest.
In the battle to capture and retain customers, businesses employ a wide range of tactics to beat competition. One of the most effective weapons is offering lower prices for similar products or services.
The goal is to create a price appeal for their products or services, but it can easily degenerate into one retaliatory price slashing after another, which can ultimately lead into a decline in industry profits. It ends up being a lose-lose situation for the business competitors.
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