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(Solved): The proposed product is a centralised venue in Prince Albert, Western Cape, where local artists and ...



The proposed product is a centralised venue in Prince Albert, Western Cape, where local artists and craftspeople can exhibit and sell their creations. This venue would host frequent exhibitions, art sessions, and workshops, catering to the town's rich artistic community and its growing tourism sector. The idea behind the venue is to offer a shared space that nurtures local talent while also attracting visitors, creating an eco-friendly, cultural hub for both residents and tourists. What is the pricing strategy of this venue? A number of issues are important in pricing products for consumer markets including how will product price be determined (demand-based or cost-plus, marginal costing or full costing); price level compared to competitors (if any); and will you be making use of penetration pricing, market skimming etc.



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