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Pricing Strategies:- 1. Cost-Plus Pricing: Adds a markup to production costs. - Example: A $10 product sold for $15 ensures profit. 2. Value-Based Pricing: Prices reflect perceived customer value. - Example: Apple charges premium rates for i
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The Consumer Adoption Process The consumer adoption process involves five key stages: Awareness, Interest, Evaluation, Trial, and Adoption. 1. Awareness: Consumers first learn about the product. Example: Tesla created awareness for its EVs through
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