Question
Walmart often uses the "Everyday Low Price" (EDLP)strategy. What is one of the primary pricing strategies frequently used by Walmart Price skimming Premium pricing Economy pricing Penetration pricing
Answer
4.3
(277 Votes)
Zoe
Veteran · Tutor for 12 years
Answer
C
Explanation
Walmart is renowned for its commitment to low prices, and one of the ways it achieves this is through the "Everyday Low Price" (EDLP) strategy. EDLP is a pricing strategy that has been a major part of Walmart's success. As the term means, instead of offering promotional sales and discounts on an an sporadic basis, Walmart keeps its prices consistently low all year round. This prompts price-sensitive shoppers to remember that they can rely on Walmart for everyday commodities that come with everyday low prices. Maintaining lower pricing on a consistent basis as part of the marketing mix supports Walmart in optimizing its profits. EDLP falls under the broader category of "Economy pricing", which Walmart firmly establishes itself in