Examlex
Outline the four training evaluation areas.
Elastic
A term in economics that describes the sensitivity of demand for a product in response to changes in its price.
Strategic Pricing
This is the practice of setting prices to maximize a company's profits by considering the product's value to the customer, market conditions, and competition.
Price Objectives
The goals a company aims to achieve regarding the pricing of its products or services, which can include maximizing profitability, increasing market share, or deterring competition.
Analyze Price Competitors
The process of examining the pricing strategies of competitors in the market to understand their impact on sales and positioning.
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