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Performance management > Pricing decisions > Flashcards

Pricing decisions Flashcards

1
Q

7 factors that influence pricing

A 
demand
quality
competitors
substitutes
inflation
age of product
disposable incomes
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2
Q

what is PED

A

Price elasticity of demand

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3
Q

defintion of Price elasticity of demand

A

PED measures the extent of the change in market demand for a product or service in response to a change in price

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4
Q

formula for PED

A

% change in demand / % change in price

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Performance management (17 decks)

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