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Discussion Topic
In most economies, price refers to the amount of funds required
Discussion Topic
In most economies, price refers to the amount of funds required to purchase a product. This discussion highlights the process for determining a price to stay competitive but justifiable price. Marketers must understand the critical role price plays in the consumer decision-making process and adjust multiple aspects of the marketing mix accordingly.
Comment on the following:
Many fast-food restaurants utilize value menus to stimulate consumer demand and remain competitive, but they should at least cover production costs when pricing these items. Is this a good marketing strategy?
Rubrics
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