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Explain the Concept of Trial Pricing

question 75

Essay

Explain the concept of trial pricing. Why would a retailer implement this pricing strategy?


Definitions:

Merchantable

A standard in sales law indicating that goods are fit for the ordinary purposes for which such goods are used.

Average, Fair

An assessment or rating that denotes something as being within an acceptable or middle range of quality or value.

Medium-Grade Quality

Describes products or materials that meet a standard of performance or durability that is considered average or moderate in comparison to others.

Breach of Warranty

The failure to fulfill the terms of a promise, guarantee, or warranty in a contract, leading to potential legal action for damages.

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