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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.
How should price be set on a product or service for the first time?
Can brand promotion technique benefit an organization by increasing its sales or hitting competitive brands may leave a negative impression on the customers?
Product Lifecycle The key terms include: 1. Product Class. At the most generic stage, this phrase refers to all products from all competing producers that serve the
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Answer for a caselet
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