For many products the effect of a price change on sales is actually linked to the change
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For many products the effect of a price change on sales is actually linked to the change in the product price relative to a reference price, which represents the price customers feel they typically pay for the product. For example, the sales of Cheerios may be based on how the price of a box of Cheerios differs from a reference price of $3.50. How would you modify the SCAN PRO model to include the idea of a reference price?
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Related Book For
Marketing Analytics: Data-Driven Techniques With Microsoft Excel
ISBN: 216520
1st Edition
Authors: Wayne L Winston
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