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top   »  marketing   »  pricing   »  pricing strategy   »  everyday low price

What is a Everyday Low Price?

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Everyday low price, commonly abbreviated EDLP, is a retail price strategy that avoids sales and other markdowns in favor of a commitment to customers to always have the lowest price. This policy may be backed up with a promise to match the offers of competitors on the same items.
An everyday low price may improve customer satisfaction as customers may grow tired of the endless cycle of price changes driven by price strategies such as high low pricing. The knowledge that a price isn't going to be discounted in a sale simplifies customer purchase decisions and avoids post-purchase regrets.
Overview: Everyday Low Price
Type
Pricing
Retail Strategy
Definition
A price strategy that avoids sales in favor of a commitment to price leadership backed up by a promise to customers and policies such as price matching.
Value
Simplifies customer purchase decisions and eliminates the post-purchase regret associated with purchasing a regular price item that later goes on sale.
Related Concepts
Price Leadership
Retail Strategy
Marketing
Pricing Strategy
High Low Pricing

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