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State the term - Price
Price is the amount charged for a service or product. It's the second most important element in marketing mix. Fixing the price of product is a tricky job. Many factors like demand for a product, cost involved, consumer' s ability to pay, prices charged by competitors for similar products, government restrictions etc. have to be kept in mind when fixing the price. Actually, pricing is a very crucial decision area as it has its effect on demand for product and also on the profitability of firm.
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Give examples of product line strategies.
Price "The amount of money charged for a product or service, or the total of the values that consumers exchange for the benefits of having or by using the service or product".
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Elaborate the term Brand in brief. Brand: Brand is nothing but a method of creating an identity for a product somewhat as Amitabh Bachan whose name suggests a certain ide
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