Answer:
D
Explanation:
Price discrimination is when the same product is sold at different prices to customers in different markets
<u><em>Types of Price Discrimination</em></u>
1. first degree price discrimination : here sellers charge each consumer at their willingness to pay in order to eliminate consumer surplus.
2. second degree price discrimination : here firms offer different prices depending on the quantity purchased. e.g. giving discounts for bulk purchases.
3, third degree price discrimination : firms charge different prices to different groups of customers. e.g. having a certain price for senior citizens, students
<u><em>Requirements to practice successful price discrimination</em></u>
- The firm must have market power. If the firm does not have market power and attempts to price discriminate they would lose customers
- The firm must have different elasticities of demand for their product in different markets
- The firm must be able to segment the market for their products
Yes because you aren’t doing anything special with your bookstore since it is the same as others
The answer is reference pricing. The reference price is also recognized as competitive pricing because the product is traded just under the price of a product of the competitor and is the rate at which a producer or a store owner trades a specific product by providing a substantial discount associated to its formerly advertised value.
Answer:
The correct word for the blank space is: Social media.
Explanation:
Social media marketing is an online-based advertisement that aims to be promoted by consumers who share the content of the promotions among their contacts. Because of the increasing and massive use of different social media as means of communication, the advertisement is likely to reach its target audience faster than through other media like television or radio.
Most retailers are implementing the use of social media marketing to let consumers know about their promotions.