element of price-mix.
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Price (Mix):
The combination of different 'price related variables' chosen by a firm to fix the price of its product is called Price Mix. Price related variables include pricing objectives, cost of product, competitor's price, profit margin etc. Price is the amount of money customers have to pay to obtain the product.
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Explanation:
Price (Mix):
The combination of different ‘price related variables’ chosen by a firm to fix the price of its product is called Price Mix.
Price related variables include pricing objectives, cost of product, competitor’s price, profit margin etc.
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