The first half of the year is over. Here’s what is happening now. Even more of your competition has left the industry. You and a handful of others really determine what happens in the market. Nike has just signed Dwayne Johnson (wasn’t he called “The Rock” when he wrestled professionally?) to a three year contract and is paying him like a Bizzilion dollars to endorse their products. You, Nike and Converse now have a huge impact on the market. Converse has just announced that they have lowered their prices by 5% and they are giving a 100% guarantee on all of their products. If the customer is not completely satisfied they will get a refund and an additional $20 to pay for gas to get you to the store. What are the strengths and weaknesses of this strategy? What kind of market is in place?
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