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Definition

  1. (retailing definition) A policy or strategy of retail pricing whereby presumably low prices are set initially on items and maintained from period to period, as opposed to the occasional offering of items at special or reduced sales prices.
  2. (sales promotion definition) A pricing approach in which the product is offered to retailers and consumers at a consistently low cost rather than reducing price periodically through sales promotion activities.[1]

References

  1. ^ American Marketing Association. AMA Dictionary.

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