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A pricing strategy is a procedure that firms follow for marketing their products and services. By using different pricing strategies, a company decides the market value of its products. Pricing strategies allow companies to attain profit under various circumstances. A good pricing strategy depends on market competitors, customer behavior, expenses, type of products, etc.
Pricing strategy helps to understand the components of the global market. It includes the cost, margin, and markup of the product. Scholars must know the theoretical aspects of pricing strategy and have good decision-making skills to attain proficiency in this discipline.
The various pricing strategies that scholars have to acknowledge during their educational periods are the following:
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Students have to attain practical knowledge and theoretical understanding. They lack time management skills, which leads to the late submission of tasks. Educators give numerous assignments to enhance the academic knowledge of learners, but these assessments increase the work pressure. Most scholars face several health issues like stress, anxiety, insomnia, etc., due to the increasing workload.
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