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Tender Pricing:
Business firms are frequently required to fix the prices of their products on a tender basis. It is more applicable to industrial products and products purchased by Institutional customers.
Such customers typically go by competitive bidding through sealed tenders. They seek the best price consistent having the minimum quality specification & thus bag the order.
Objective of pricing decision: a firm may choose its pricing objectives from any of the following: 1. To maximize the profits: the primary objective of the pricing decision i
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