Using a marketing text or dictionary, write definitions for the following terms (15-20 words per definition): Price Cost/s Cost-based pricing Value-based pricing Competition-based pricing Market-penetration pricing Market-skimming pricing Applied activities Read the following article and answer the questions below: ARTICLE: Henry, JA, Guthrie (Links to an external site.), JC, & McLeod (Links to an external site.), GFH (2015). A Model of Supermarket Pricing Behaviour. Asian Journal of Business Research (Links to an external site.), vol. 5 (2), pp.44-57 A Model of Supermarket Pricing Behaviour (Links to an external site.) Also available via Google Scholar QUESTIONS: According to the findings of the article, Who maintains the balance of power in the distribution channel? What are KVI (Key Value Items) and how are they priced differently? Is the pricing for most products in supermarkets set on a cost basis or a value basis
