Price Wars Have No Winners

Foreseeing the financial crisis that might become a reality due to the price wars, Anil Bhandari, Chairman, AB Smart Concepts shares his opinion on how to deal with the current situation.

A price war is triggered off when the supply far exceeds the demand for a certain category of goods or services and there is cut- throat competition among producers and sellers. In this scenario, the customer is the king. However, the spiral of retaliatory price slashing by rival competitors invariably leads to a precipitous decline in the industry and the economy.  Eventually, the customer, too, has…

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