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Rising raw material costs make it tough for companies to survive
In a competitive marketplace, companies desperately try to cut prices, not because they are naturally inclined to price wars
In a competitive marketplace, companies desperately try to cut prices, not because they are naturally inclined to price wars, but because they are forced to do so in the face of consumer choice. Consumers have a consistent behaviour: for a given quality of product or service, the lower the price offered by a company, the more the majority of consumers will buy it. With this unwavering preference, consumers will always prefer to buy the same thing at the lowest price or a better thing at the same price. No matter what kind of competition each enterprise carries out (for example, brand competition, quality competition, technical competition of stone production line, etc.), ultimately it will fall on the price competition. Therefore, under the constraints of the limited financial resources of consumers, want to let them out of pocket to buy things, enterprises must be in the ‘cost-effective’ conversion to please consumers.
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