Lower pricing strategy is not for meeting competitive challenge given by a competitor is it statement true or false?

I would say this is a true statement. A “lower pricing” strategy would not be for one-upping a competitor as much as for attracting clientele. A loss-leader pricing strategy is well-known for its ability to draw new clientele to a struggling retail business, or to establish a clientele for a new business. 

Generally, incurring a price war with a competitor by cutting prices is not a good business decision. Meeting competition would be better done by providing a higher-quality product and/or better customer service than the competitor.

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