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What does price elasticity of demand mean

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Reference no: EM132338839

Question 1

Part 1

Why is it critically important for a brand and/or company to price their product and/or service correctly the first time?

Part 2

What does "Price Elasticity of Demand" mean? What are the two approaches to pricing and why are they important?

Question 2

Part 1

How can choosing the wrong marketing channels impact a brand or company's business? How should a brand go about choosing the proper marketing channels?

Part 2

How can a brand or company's supply chain be a competitive advantage or competitive disadvantage?

Reference no: EM132338839

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