Answer :
Final answer:
The pricing strategy in which a firm matches any lower price offered by a competitor is called price matching.
Explanation:
The pricing strategy in which a firm advertises a price and promises to match any lower price offered by a competitor is known as price matching. Price matching is a way for a company to stay competitive and ensure that customers feel they are getting the best deal in the market. For example, a retailer may offer a price match guarantee, where if a customer finds a lower price for the same product at a different store, the retailer will match that price.
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