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Rachel is attending Catholic mass for the first time with her best friend Maria.Rachel is unfamiliar with when to sit,when to kneel,or when to stand,and doesn't know when to respond to what the priest says and when to remain silent.When it is time for parishioners to receive Communion,Rachel looks quizzically to Maria,who silently shakes her head.Rachel remains seated while the rest of the congregation files toward the altar.This situation best exemplifies
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Penetration Pricing
Setting a low initial price on a new product to appeal immediately to the mass market.
Price-sensitive Market
A market characterized by consumers who are highly responsive to changes in the price of goods and services.
Pricing Method
The approach or strategy adopted by a company to set the price of its products or services, taking into account costs, value to the customer, market demand, and competition.
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