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What is pricing strategy used by your company

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Price: Begin with a theoretical definition of price. What is the pricing strategy used by your company? Price is the amount of money that is asked for in exchange for a product or service. Amazon's pricing strategy is a dynamic pricing strategy, which is a strategy that changes the price of a product or service based on market conditions and consumer demand. Amazon is able to maintain its competitiveness and maximize revenues by adjusting prices in real-time. Amazon also employs "price anchoring," a strategy in which they establish a higher price for a product and then provide discounts to give their customers the impression that they are getting a better deal.

Reference no: EM133378351

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