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Environmental Elements That Affect Pricing Decisions Are Categorised as External

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Environmental elements that affect pricing decisions are categorised as external factors.


Definitions:

Business Analysis

The practice of identifying business needs and determining solutions to business problems.

Marketing Strategy

A comprehensive plan formulated by businesses to reach potential consumers and turn them into customers of their products or services.

Financial Projections

Estimates of future financial performance, including expected revenue, expenses, and profitability.

Market Testing

Market Testing involves experimenting with a product or service in specific markets before a full-scale launch, to evaluate its performance and potential success.

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