With the Everyday Low Prices pricing strategy, a company adopts retail prices that are typically somewhere between the product's regular price and the sharply discounted sale prices that competitors occasionally offer.
Explanation:
EDLP short for Everyday Low Prices is a pricing technique in which businesses offer reliably low commodity prices to customers without having to wait for events of sale. A firm sets a low price in such a pricing policy and retains it over a long period (because the quality of the commodity remains unchanged).
Consumers have shown in many marketing surveys that they are more comfortable with reliably low prices rather than wild demand swings. For this reason, the strategy of the EDLP works effectively.
