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Study on Professional Communication

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Added on  2020-04-07

Study on Professional Communication

   Added on 2020-04-07

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Running head: PROFESSIONAL COMMUNICATION Professional Communication Name of the StudentName of the UniversityAuthor Notes
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1PROFESSIONAL COMMUNICATIONTable of ContentsIntroduction................................................................................................................................2General Principal and relevant Concepts...................................................................................2Application of price drops in retail/grocery and electronic industry.........................................4Effect of Price Drops among customers and business man.......................................................5Conclusion..................................................................................................................................6
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2PROFESSIONAL COMMUNICATIONIntroduction The price of different product is one of the important parameter which decides uponthe supply and demand rate in the market. It is often believed that in slow Economic growthcircumstances, it is often effective to lower the level of pricing of consumer products. Lowerlevel of pricing will thereby help to increase the total amount of sales and hence, more profitcan be earned. However, according to many expert economists, the pricing strategy of aproduct should be done according to the level of demand. If the prices of the products areraised too high by the sellers, where the demand of a product is less than they can offer it willend up having surplus products. The sellers, will then have to sell those products act muchlower rate until and unless the stock is over. On the other hand is the prices of the productsare set too low, and then it will be possible to sell the entire stock before the demand is beingfulfilled. This will ultimately lead to a shortage of consumer products with in the market.Moreover it will lead to more loss for the sellers. With increased level of prices, the total number of suppliers for a product alsoincreases due to the fact that they are able to make better amount of profit. The demand of aproduct also increases due to lowering price level. In the given context, the current report willdiscuss about the effects of pricing drop that are done in business with the intention ofimproving the profit level. The effects of price drops will be discussed by comparing thesame across different industries. General Principal and relevant ConceptsAccording to the work of Ingenbleek et al. (2013), the prices of product are generallybeing decided with the approach of choice between market penetrating price and market
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