Examlex
When faced with a competitor who has cut its product's price, which of the following is the most cost-effective way for a company to maintain its own price but raise the perceived value of its offer?
Counteroffer
A response to an offer in a negotiation, where the original offer is rejected and a new offer is presented.
Original Offer
The initial proposal or bid made in a negotiation or business agreement.
Reasonable Means
Methods or procedures that are practical and sensible, often used to achieve a certain outcome with minimal resources.
Unilateral Contract
A type of contract where only one party makes a promise to perform in exchange for an act by the other party.
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