Problem #3 Pierre LeBlanc owns a bicycle shop that specializes in European speed bikes. He sells expensive bikes with prices starting around $500. His only competition is a nearby Walmart store that sells bikes starting at around $150. Recently, the economy in Pierre's town has been depressed due to the closing of several corporations in the area. Since the economy is bad, Pierre's sales are starting to fall. He does not want to close his business and has asked for your help. Which product-mix strategy would be best for Pierre?
