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Business Studies

Organisational Objectives

The price of ...

Question

The price of product which is below the cost in the initial stages, is referred to as ______________.

A

Prestige price

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B

Mark down price

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C

Odd pricing

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D

Customary price

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Solution

The correct option is A Mark down price
A price markdown is a deliberate reduction in the selling price of retail merchandise. It is used to increase the velocity (rate of sale) of an article, typically for clearance at the end of a season, or to sell off obsolete merchandise at the end of its life.

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