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In today's fiercely competitive business environment, pricing decisions play a pivotal role in determining the success and sustainability of organizations across various industries. Effective pricing strategies not only impact revenue generation but also influence market positioning, customer perception, and overall profitability. However, arriving at optimal pricing decisions is a complex endeavor, necessitating a deep understanding of cost structures, market dynamics, and customer preferences.
Chauhan et al. (Sat,) studied this question.