How would you modify the scan pro model

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For many products the effect of a price change on sales is actually linked to the change in the product price relative to a reference price, which represents the price customers feel they typically pay for the product.

For example, the sales of Cheerios may be based on how the price of a box of Cheerios diff ers from a reference price of $3.50.

How would you modify the SCAN*PRO model to include the idea of a reference price?

Reference no: EM131380593

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