PRICE STRATEGY

Customers find the product prices of Aim High Convenience Store to be highly
alluring. To reach our target demographic, Aim High Convenience Store will
want to employ a variety of pricing strategies. Price penetration is one method
they might utilize to their advantage. This marketing strategy involves setting a
product's initial price low to quickly capture a sizable portion of the market.
Typically, this is done to encourage people to convert to the new product or
brand. When customers notice that the prices on the products being offered at
Aim High Convenience Store are incredibly low, they will be drawn there from
the stores they often shop at. Aim High Convenience Store might be interested
in economy pricing as an additional pricing strategy. In this situation, things
are given a reduced price. This is frequently employed in retail settings where a
variety of commodities, such as canned goods, are offered under generic food
brands with minimal marketing and production. This is something that Aim
High Convenience Store might employ because they sell extremely basic food
and beverages to their target market of people who travel frequently, like
delivery or lorry drivers. This would maintain affordable costs and draw those
kinds of clients.

Such business owners can profit from competitive pricing since it enables them
to keep an eye on the choices and actions that their close competitors make.
Such a strategy, however, might be detrimental to the chosen product in
several ways. The prices of food and drinks are a point of competition for Aim
High Convenience Store. Prices for goods that the shops purchase from
suppliers are not notably different. Aim High Convenience Store charges a
relatively high price for its private label products compared to other
convenience stores because it is the top business. Additionally, the business
can charge a premium for products that other convenience stores do not sell.
Aim High Convenience Store has struggled to hold onto its position as the
market leader despite the fierce competition in the industry. Aim High
Convenience Store has employed information technology to stay ahead of rising
customer demands and an increasingly difficult business environment to
maintain their competitive advantage.