solution
Company A has been challenged recently by several new competitors. Its current customers have not yet switched, but Company A has learned that its customers have been approached by the new competitors who have lower prices than does Company A. To counter this potential threat, Company A has told its sales staff to work with clients to identify free service enhancements for each customer. This is an attempt to:
Increase Company A’s pricing power within its industry
Improve the customer perceived value of Company A’s offerings
Reduce the switching costs to Company A’s customers
Lower the value proposition of the new competitors in Company A’s markets
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