NV Inchas Launched a Touch-Sensitive Handset in the Indian Market and and Priced

question 105

Essay

NV Inc.has launched a touch-sensitive handset in the Indian market and priced it at INR 9500.Although many people are checking it out and showing interest about purchasing it,majority of them are holding themselves back because they feel that it is not worth INR 9500.They compare the handsets' feature with that of its other competitors offering the same features and come to a conclusion that it is worth INR 8500 and nothing more than that.What kind of a reference price are the consumers using?

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Definitions:

Gaza Strip

A small region on the eastern coast of the Mediterranean Sea that borders Egypt and Israel, known for its historic conflict and as a significant geographical area in the Israeli-Palestinian conflict.

West Bank

A territory located in the Middle East, bordered by Israel and Jordan, known for its ongoing political and territorial disputes.

Service Reduction

The process of decreasing the level or quantity of services provided, typically as a cost-saving measure or due to decreased demand.

Systematic Change

Planned and structured modifications made in a system to improve processes, technologies, or structures.