Categories of approaches to setting approximate price level

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There are four main categories of approaches to setting an approximate price level (demand-oriented, cost-oriented, profit-oriented and competition-oriented). Most of the time, a marketing manager will consider several approaches when searching for an approximate price level. For a quick-serve restaurant of your choice, what pricing two main approaches are being used? Justify your answer with specific tactics/strategies (e.g., skimming, penetration, customary, etc.) for each approach you choose and give examples.

Reference no: EM132202562

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