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Base Price

Base Price

Also referred to as non-promoted price, it is the average price of an item across all stores.

Market conditions, competition, and production costs constitute the base price.

Related Terms

Markdown Pricing

A pricing strategy where retailers lower the prices of products to boost sales and manage inventory

Yield Management

A pricing strategy used to maximize revenue by varying prices based on demand and inventory levels.

Customer Loyalty

Emerges when customers consistently favor a brand over its competitors, leading to repeat purchases and a