ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Competition
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Business Plan
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Compare with competitors’ products based on price, performance, attributes
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A condensed abstract of a business plan used to spark the reader’s interest in the business & to highlight crucial information
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Competition
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Explanation:
Detailed explanation-1: -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-2: -As the name suggests, competitor-based pricing is a pricing strategy in which a company sets the price for its products after observing the competition. However, this strategy does not cover initial costs and only takes into account the selling price of the rivals’ products.
There is 1 question to complete.