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"Reliance Damages Cannot Be Used to Escape the Consequences of a Bad

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Essay

"Reliance damages cannot be used to escape the consequences of a bad bargain." Explain the meaning of that statement.Explain the justification for that rule.Provide an example that illustrates your answers.


Definitions:

Trading Up

A strategy where a business encourages customers to purchase higher-priced items, upgrades, or add-ons.

Trading Down

Opting for cheaper or lower-quality products or services, often as a result of economic constraints or budget considerations.

Repositioning

The strategy of changing the marketing mix for a product or brand to target new markets or change the product's image.

Product Life Cycle Shapes

The visual representation of the stages a product goes through from its introduction to the market until its decline, typically shown as a graph.

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