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Definitions:
Predatory Pricing
A competitive strategy in which a business sets extremely low prices to eliminate competition and monopolize the market.
Bait and Switch
A deceptive marketing strategy where a customer is lured by the advertisement of a low-priced item but then is encouraged to buy a more expensive one.
Caveat Emptor
A Latin phrase meaning "let the buyer beware," indicating that the buyer assumes the risk for the quality of goods purchased, unless protected by warranty.
Former Price Comparisons
A method of evaluating the price history of a product or service to assess its current value.
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