ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Definition-Businesses will charge similar prices to other businesses. Is an example of ____
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Penetrative Pricing
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Competition Pricing
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Cost-Plus Pricing
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Competitive Pricing
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Explanation:
Detailed explanation-1: -A simple definition of competitive pricing is when you create product prices based on the prices being offered by your competitors. Of course, that’s the simplest explanation, but it can also be a genuinely useful business and research tool.
Detailed explanation-2: -A competitive price is a pricing strategy used by businesses to establish a market value for their products similar to their competitors’ offerings. A company reviews competitors in the market with similar products and selects a price that is competitive to encourage consumers to purchase their item.
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