MARKETING >CUSTOM< (PB)
MARKETING >CUSTOM< (PB)
19th Edition
ISBN: 9781307525557
Author: Kerin
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 13.3, Problem 13.3LO
Summary Introduction

To discuss: The meaning of demand curve and the role of revenue in pricing decisions.

Introduction:

Price is a payment method for the use of product and service or exchange of goods and services.

Demand refers to customer’s willingness and ability to pay for a product or service. A decrease in prices of product or service will increase the demand and vice versa by keeping other factors constant.

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