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Petco sells pet food, products, and services, as well as certain types of live small animals. Founded in 1965 as a mail-order veterinary supply company in California, it grew into a pet food and supplies chain. Acquired by The Spectrum Group, Inc. and the Thomas H. Lee Company in 1988, it first went public on the NASDAQ in 1994 (ticker "PETC"). [4]
Coupons can be used to research the price sensitivity of different groups of buyers (by sending out coupons with different dollar values to different groups). Time, location and sizes (e.g. five pound vs. 20 pound bag) [12] affect prices; coupons are part of the marketing mix. [13] So is knowing about the customer. [14] [12]
The economist Alex Tabarrok has argued, that the success of this promotion lies in the fact that consumers value the first unit significantly more than the second one. So compared to a seemingly equivalent "Half price off" promotion, they may only buy one item at half price, because the value they attach to the second unit is lower than even the discounted price.
Wet (canned) cat food example (Fish flakes in jelly) Various kinds of canned cat food. In much of Europe, the UK and the US, canned or wet food (75–78% moisture) generally comes in aluminum or steel cans in 90, 160 and 370 g (3, 5 + 1 ⁄ 2 and 13 oz) sizes. It is also sold in foil pouch form. [citation needed]
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