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According to (Sulle,R.,2019)Pricing strategy refers to method companies use to price their products or services. It is used as a competitive measure in the retail

According to (Sulle,R.,2019)Pricing strategy refers to method companies use to price their products or services. It is used as a competitive measure in the retail market, which creates a positive shopping experience for the consumer.

Pricing strategy is based on three factors profit, sales, and the status quo. Explanation?

Please see the definition of pricing strategy. I need assistance with the statement in BOLD. Please reference any citied material.

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