________ Is a Technique Which Greatly Simplifies the Pricing Function

question 141

Multiple Choice

________ is a technique which greatly simplifies the pricing function by setting the same price for items with similar characteristics.

• A)Odd pricing
• B)Leader pricing
• C)Price lining
• D)Geographical pricing

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Definitions:

Operational Excellence

The execution of the business strategy more consistently and reliably than the competition, involving continuous improvement in processes and achieving high customer satisfaction.

Competitive Advantage

An attribute or combination of attributes that allows an organization to outperform its competitors, including cost structure, product quality, brand, customer service, or technology.

Home-Based Businesses

Enterprises that are operated from the owner's home, often utilizing online and digital tools for operations and marketing.

Capital Base

The amount of capital invested in a business by its owners plus any retained earnings, serving as the financial foundation for growth and operations.