discussion answer

Under a price matching guarantee, a seller offers to meet a lower price from another seller. Although the details of these offers may vary, price matches generally allow a buyer to show seller A the lower price in seller B’s ad, and seller A provides the product to the buyer at the lower price. Also, some guarantees may allow buyers who previously purchased from seller A to claim a refund equal to the price difference if they find another seller with a price lower than they paid.

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At the beginning of Chapter 15, the authors describe a rivalry between two sellers that escalated into a price war. One of the firms ended the price war by declaring that they would match any price that is lower than their posted price. In some cases, groups of firms also offer to match lower prices if they are operating a cartel and collectively raise prices above the competitive level. In this case, customers who take advantage of the price matching guarantee let the cartel members know if someone in the group has cheated on the cartel agreement and is discounting prices below the agreed level. Sometimes, firms simply offer price matches as a way to keep up with competition and maintain market share.

Do you recall seeing particular products or companies that have made price-matching guarantees? Have you ever taken advantage of a price-matching guarantee? Which type of consumer is more willing to take advantage of price matches, elastic or inelastic buyers?


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