Retail Price Elasticity

<div> <p>An important concern of retailers is to know the effect of sales of marketing activities such as price discounts or special promotions. Since the advent of optical scanner data, retailers have utilized estimates of the effects of marketing mix variations to better manage inventory, shelf-space allocation, and promotional activities (Food Marketing Institute 1985; Petrison 1987). The effects of marketing activities on retail sales are frequently assessed by estimating

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