Examlex
Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
Louis Philippe
Price Sensitivity
The degree to which the price of a product affects consumers' purchasing behaviors, reflecting their responsiveness to price changes.
Shrinkflation
A business practice where the size or quantity of a product is reduced while its price remains the same or is increased, effectively elevating the price per unit.
Premium Juice Line
A range of high-quality, often organic or uniquely sourced, juice products positioned at the upper end of the market.
Price Bundling
A pricing tactic in which two or more products are packaged together and sold at a single price.
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