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- HOW WOULD THIS MARKETING CONCEPTS AFFECTS THE PRICING STRATEGY OF THE COMPANY?Explain the price-demand relationship. What factors must sellers consider when setting prices in different types of markets?Is it necessary to lower price to obtain a sufficient relative advantage to ensure diffusion? Will temporary price reductions induce product trial?
- What price is so low that consumers would questionthe product’s quality?What economic factors should a marketing plan consider to optimize pricing strategies for a new product launch?A primary marketing objective of all competitors in mature markets is simply to: Increase price to maximize profits. Increase market penetration. Hold their existing customers. Market their products to a new market. All of the above