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Marketing Principles

Pricing

TermDefinition
An internal factor affecting pricing decisions Costs
Businesses setting a high price when the market is price-insensitive Market-Skimming
Abbreviation of Revenue per available seat hour RevPASH
With an understanding of price elasticity, sellers should know that the less elastic the demand for their product is, the more advantageous it is for them to ________ Raise price
_______ pricing is the approach of setting a low initial price in order to attract a large number of buyers quickly and win a large market share. Market-penetration
Created by: culinary
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