PRICE MIX Definition

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PRICE MIX is the value of the product determined by the producers. Price mix includes the decisions as to: Price level to be adopted; discount to be offered; and, terms of credit to be allowed to customers.

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SPECIFIC RESEARCH is a method used when gathering primary information for a market survey where targeted customers / consumers are asked very specific and in-depth questions geared toward resolving problems found through prior exploratory research.

CORE COMPETENCY is a specific factor that a business believes as being central to the way it, or its employees work. A core competency normally fulfils three key criteria:

  • It provides customer benefits
  • It is not easy for competitors to imitate or duplicate
  • It can be leveraged widely to many products and markets.

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