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A price override is a feature of a retail management system which allows an authorised person to change the automated price of a product or service, in order to apply a discount. [1] [2] Price overrides occur for a variety of reasons. One common reason is to discount damaged goods. Another is employee discount and discounts given to other ...
Pricing strategies and tactics vary from company to company, and also differ across countries, cultures, industries and over time, with the maturing of industries and markets and changes in wider economic conditions. [2] Pricing strategies determine the price companies set for their products. The price can be set to maximize profitability for ...
The concept of supracompetitive pricing is connected to the concept of predatory pricing. Predatory pricing can be defined as a dynamic market strategy that is characteristic in a single market where a company decides to develop a business strategy that includes the sacrifice in a short run in order to eliminate existing competition and acquisition of a dominant market position where the ...
A price war is a form of market competition in which companies within an industry engage in aggressive pricing activity "characterized by the repeated cutting of prices below those of competitors". [1] This leads to a vicious cycle, where each competitor attempts to match or undercut the price of the other. [2]
Pricing is the process whereby a business sets and displays the price at which it will sell its products and services and may be part of the business's marketing plan.In setting prices, the business will take into account the price at which it could acquire the goods, the manufacturing cost, the marketplace, competition, market condition, brand, and quality of the product.
Price Intelligence (or Competitive Price Monitoring) refers to the awareness of market-level pricing intricacies and the impact on business, typically using modern data mining techniques. It is differentiated from other pricing models by the extent and accuracy of the competitive pricing analysis. [ 1 ]
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Asymmetric price transmission (sometimes abbreviated as APT and informally called "rockets and feathers" , also known as asymmetric cost pass-through) refers to pricing phenomenon occurring when downstream prices react in a different manner to upstream price changes, depending on the characteristics of upstream prices or changes in those prices.