With the retail landscape becoming increasingly competitive, retailers tend to differentiate themselves through innovative pricing strategies. One practice that is become increasingly common is that of Price Guarantees. This in-class exercise allows for a dynamic situation wherein retailers change the prices depending on the response from the customers. The exercise itself simulates a market where different retailers follow different pricing strategies including price matching and price beating guarantees. The exercise is aimed at developing an understanding of price guarantees and how they function among the participants.