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Business Strategy and Policy
Business Strategy and Policy

... – Companies may also pursue a strategy of higher prices in the hope that higher revenues per unit sold translate into higher sales volume and a resulting increase in market penetration. With this strategy, a concern is that higher prices could deter customers from making a purchase. ...
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... products within a product line – Captive pricing: Pricing the basic product in a product line low while pricing related items at a higher level – Premium pricing: Pricing the highest-quality or most versatile products higher than other models in the product line – Bait pricing: Pricing an item in th ...
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What is a Price?
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... Pre-assigned groups of 5-6 students will prepare a marketing report for a new product/service which is not available in North Cyprus`s consumer or business market. The students should import a product/service to North Cyprus. The students are free to enter any market (e.g. pharmacy, medical, technol ...
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... One of the key themes of today’s economy is the challenge of marketing goods and services in mature markets that are plagued by commoditization. In what ways is pricing strategy related to commoditization? How can a firm offer good value in a mature market where price is the only visible means of di ...
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SETTING PRICES FOR VARIOUS MARKETS
SETTING PRICES FOR VARIOUS MARKETS

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Pricing strategies

A business can use a variety of pricing strategies when selling a product or service. The price can be set to maximize profitability for each unit sold or from the market overall. It can be used to defend an existing market from new entrants, to increase market share within a market or to enter a new market. Businesses may benefit from lowering or raising prices, depending on the needs and behaviors of customers and clients in the particular market. Finding the right pricing strategy is an important element in running a successful business.
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