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Flanking in a Price War
Essay specific features
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Written by:
Fannie S
Date added:
March 21, 2015
Level:
University
Grade:
A
No of pages / words:
7 / 1767
Was viewed:
6326 times
Rating of current essay:
Essay content:
The beginning of the article also explains and provides a summary of each retailer's history. Steinberg's became notorious for slashing prices and creating many obstacles for competitors in the industry. Thus, the president of IGA used academic resources from the United States and Canada to help comprehend the price relationship between goods and price modifications...
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This research was performed so IGA could form the most effective pricing strategy for the market. Hudon and Deaudelin (owners of the IGA name in Quebec) did not want to utilize the normal, typical price reduction scheme used by most grocers.
The Bayesian Theory was what the experiment was based on. The Bayesian Theory was, "named for Thomas Bayes, an English clergyman and mathematician, Bayesian logic is a branch of logic applied to decision making and inferential statistics that deals with probability inference: using the knowledge of prior events to predict future events...
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