ENTREPRENEURIAL MARKETING
PRICING STRATEGIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Product, promotion, and service
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Cost, Demand, and Competition
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Cost, Demand, and Customers
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Price, Promotion, Professionalism
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Detailed explanation-1: -Cost-Based Pricing. Value-Based Pricing. Competition-Based Pricing. 19-Sept-2017
Detailed explanation-2: -Some of the more common pricing objectives are: maximize long-run profit. maximize short-run profit. increase sales volume (quantity)
Detailed explanation-3: -Competitive Based Pricing (or Competition Based Pricing) is a pricing model where your price points are heavily influenced by those of your competitors. This approach focuses outwardly on the market, rather than inwardly on your costs (Cost Plus Pricing).
Detailed explanation-4: -Low price-When you set the prices lower than your competitors. High price-When you set the prices higher than your competitors. Matched price-When you align your prices with your competitors. 16-Aug-2022