Ask What should a business do if it keeps losing customers to competitors with cheaper prices?

[Newman]

Losing customers to lower prices is a common problem, but cutting prices to match is not always the smartest move because it can hurt profit in the long run. Instead, a business can focus on showing customers the extra value they get, like better service, faster support, or higher quality. People often stay loyal when they feel they are getting something worth the extra cost. What do you think a business should focus on when price alone cannot win customers?