The law of demand states that as prices rise consumers will buy less of a product and as prices drop consumers will buy more of a product. With that principle in mind how do you think your company should price it's products and or services?
Look at Wal-Mart they have a market share because no one beats their prices but they also have everything you want to buy at one place. The service is nothing special but what we value as customers is the best prices for what we want. On the other hand Nordstroms does great business but their business is not based solely on prices but on what customers value on upscale products.
Discussion Topic: Does Nordstroms (who tends to have higher prices) practice the law of demand? Why or Why Not? We want to hear from you.
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