Today, marketers like Wal-Mart practice value pricing called everyday low pricing (EDLP). Explain th

 EDLP involves charging a constant, everyday low price with few or no temporary price discounts. EDLP amounts to significant savings for the supplier, manufacturer and the final customer. Retailers save on promotional dollar expenditures. As Wal-Mart has shown, a more efficient supply chain ensues. The only weakness of the approach is that consumers who are deal prone and looking for items on sale are less likely to prefer this approach. However, given the American consumers' busy work/home schedule, this strategy has paid off big dividends for marketers. That is, consumers do not have the time to shop around looking for the best deal. If they feel that the price is value oriented, they are satisfied. High-ticket goods like cars (Saturn) and upscale department stores, such as Nordstrom, use EDLP.

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