Product-Mix Pricing Can Involve a Number of Pricing Strategies for the Brand

question 45

Essay

Product-mix pricing can involve a number of pricing strategies for the brand manager. List each of these strategies and briefly define each.

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Definitions:

AQL

Stands for "Acceptable Quality Level," a statistical measure used in quality control to determine the maximum number of defective units considered acceptable in a sample.

LTPD

Lot Tolerance Percent Defective; the highest defect rate that can be considered acceptable during the random sampling of a lot for acceptance testing.