Examlex
What types of price lowering techniques can a small business owner utilize without starting price wars or reducing the quality perception of his or her products? Explain.
Market Share
The percentage of an industry's total sales that is earned by a particular company over a specified time period.
Initial Price
The original cost or price of a good or service when it is first offered for sale, often used as a baseline for pricing strategies.
Contribution Margin
The amount remaining from sales revenue after variable costs have been deducted, used to cover fixed costs and contribute to profit.
Machine Hour
A unit of measure representing the operation of a machine for one hour, often used in cost accounting.
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