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3.04 Study Guide
3.04 Study Guide

... This _________will first look to the Internet to acquire this information. They defend these _________ under most any circumstance and will adamantly “sell” those that ask why they use the _________or service and why they made the choice they did. This _________ can be a powerful, unpaid sales force ...
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... A highly satisfied customer: ● stays loyal longer, ● buys more as the company introduces new products and upgrades existing products, ● talks favorably about the company and its products, ● pays less attention to competing brands, is less sensitive to price, ● costs less to serve than new customers ...
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13.4 game theory

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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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