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Explain the different Price Adaptation Strategies.
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Solved in 2 steps
- what is the price adjustment lag and how does it affect the price variation methodDiscuss how price discrimination can enhance the effectiveness of a limit pricing strategy.Explain the pricing strategy and argue about the reasons that motivate companies to sell a product below its normal price (dumping).
- what are the three major pricing strategies and discuss the importance of understanding customer-value perceptions, company costs, and competitor strategies when setting prices.Explain the unethical issues of Marketing in Pricing (Price Gouging and Price Discrimination). Give one example for each.What is the Cost Determinant of Price?