Explain business decision-makers

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Price is the amount that consumers will be willing to pay for a product?
Marketers must link the price to the product's real and perceived value, while also considering supply costs, seasonal discounts, competitors' prices, and retail markup?
In some cases, business decision-makers may raise the price of a product to give it the appearance of luxury or exclusivity?
Or, they may lower the price so more consumers will try it?
Marketers also need to determine when and if discounting is appropriate?
A discount can draw in more customers, but it can also give the impression that the product is less desirable than it was?

Reference no: EM133247078

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