Describe How Communication Satisfies Practical Needs

question 19

Essay

Describe how communication satisfies practical needs.

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Definitions:

Rigid Cost-plus Pricing

A pricing strategy where a fixed percentage is added to the total cost of producing a product to determine its selling price, without flexibility for market changes.

Export Markets

Countries or regions where goods and services are sold abroad, outside the producing country's borders.

Penetration Pricing Strategy

A strategy where a company sets the price of a product very low to get customers to try it.

Market Share

The portion of a market controlled by a particular company or product, often expressed as a percentage of total sales in that market.