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13 questions from this quiz
Product, Price, Place, Promotion
Adding a set amount/% to production cost
£1.20
Simplicity & guaranteed profit per sale
Low initial price to attract customers
Markets where similar items already exist
High initial price before competitors
Recover R&D costs quickly & high profits
Products priced below cost to attract customers
Customers buy only discounted items
In markets with strong competition
Products in decline need lower prices
Typically sell fewer units
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