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Discuss How the Price Element in the International Marketing Mix

question 23

Essay

Discuss how the price element in the international marketing mix has been affected by the introduction of the internet.


Definitions:

Algorithms

A set of instructions designed to perform a specific task or solve a particular problem.

Mental Sets

The framework of cognitive biases and predispositions to respond to a situation in a particular way, which can impact problem-solving abilities.

Fixation

An obsessive focus or attachment to someone or something that can result from unresolved developmental conflicts.

Framing Effect

A cognitive bias where people decide on options based on whether they are presented in a positive or negative way.

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