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What is Competition Based Pricing
In case of products where market is highly competitive and there is negligible difference in quality of competing brands, price is generally fixed closer to the price of competing brands. It is known as 'young rate pricing' and is a very convenient method as marketers don't have to worry much about demand and cost and effect the change as per changes by the industry leaders.
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Question 1: Leading edge companies are driving to increase profits from high yield customers. They aim to acquire and retain profitable customers and get them to spend more. Th
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