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Q4s - A common pricing mistake entrepreneurs make is...

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A common pricing mistake entrepreneurs make is lowering prices because they fail to recognize the extra value, convenience, service, and quality they offer their customers. The three major advantages to establishing an international location are: 1. Lower product costs 2. Lower marketing costs 3. Development of an intimate knowledge of customer preferences A free trade area is an association of countries that have agreed to knock down trade barriers, both tariff and nontariff, among partner nations. This statement is true. High prices frequently convey the idea of quality, prestige, and uniqueness to customers. Dumping is the practice of selling substantial quantities of a product in a foreign market at prices that are below either the home-market price or below the full cost of producing it. The fee that banks collect form retailers whenever customer use a credit or debit card to pay for a purchase is known as the interchange fee.
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