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You are an adviser to the Redbox CEO. there is a proposal to raise the price of Redbox videos to $2.00 per video rental. you must advise the CEO as to whether or not this is a good idea. Explain your reasoning and examine how this would impact Redbox competitively.You are an adviser to the Redbox CEO. there is a proposal to raise the price of Redbox videos to $2.00 per video rental. you must advise the CEO as to whether or not this is a good idea. Explain your reasoning and examine how this would impact Redbox competitively. atleast 3 paragraph
Expert Answer
As redbox is a reputed brand of videography, it is important to maintain the competitiveness of the company to assure their stay in the market. Thus, if the prices of the videos are made high, then the market share will fall drastically which will impact the organisation as a whole. Thus, it is advisable to the CEO that performance of the company will fall and it is not a good idea to hike the price of rental.
