Meat & Buns,a burger restaurant,recently announced plans to drop the price of its double cheese burger from $1.99 to just 99 cents in order to match its competitor's pricing.This is an example of a

A) volume strategy.
B) prestige objective.
C) profitability strategy.
D) price war.

Price War

A competitive situation where rivals repeatedly cut prices to gain business, often leading to decreased profit margins for all participants.

Prestige Objective

The prestige objective in marketing refers to creating a high status and perception of exclusivity around a product or brand, aimed at attracting customers seeking luxury or high-quality items.

Profitability Strategy

A business approach focused on increasing net income through revenue enhancement, cost reduction, or both.