Question: Marketing Questions - Please Help! Part 1 Why is it critically important for a brand and/or company to price their product and/or service correctly the

Marketing Questions - Please Help!

Part 1

Why is it critically important for a brand and/or company to price their product and/or service correctly the first time?

Part 2

What does "Price Elasticity of Demand" mean? What are the two approaches to pricing and why are they important?

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