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Homework answers / question archive / Why is it difficult to determine reference prices? Consider a new pizza restaurant opening near your campus

Why is it difficult to determine reference prices? Consider a new pizza restaurant opening near your campus

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Why is it difficult to determine reference prices? Consider a new pizza restaurant opening near your campus. What challenges would the restaurant’s marketers encounter as they attempt to determine their customers’ reference prices? How could they find this information? What is the problem with standard markup pricing? How do buyers and sellers lose from this type of pricing strategy?

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