Business GCSE
Price reduction
What Price reduction means in Business GCSE, as defined for AQA.
Definition of Price reduction
Check what you remember
Read the wording for your board, then hide it and explain Price reduction in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
Lowering the amount a customer pays for a product, as a pricing tactic within the marketing mix used to influence demand, sales volume and competitiveness.
Topics that use Price reduction
Related terms
- Access to customers
- Adaptation and reaction
- Adaptation to change
- Advertising
- Balancing
- Batch Production
- Brand awareness
- Brand awareness and image
Using Price reduction in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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