Asked by
Monib Hajyouni
on Dec 15, 2024
Verified
All of these statements about price are true exceptwhich?
A) Small changes in price can have big effects on both the number of units sold and company profit.
B) The price for a product or service must earn a profit for the company.
C) For most products and services, there is an agreed-upon price range set by makers.
D) The price must be "right"-in the sense that customers must be willing to pay it.
E) The price must generate enough sales dollars to pay for the cost of developing, producing, and marketing the product.
Small Changes
Minor modifications or adjustments made to processes, products, or behaviors, often with the intention of improving efficiency, quality, or outcomes.
Company Profit
The financial surplus generated by a company after all operating expenses, including production costs, taxes, and overheads, have been deducted from total revenue.
- Distinguish between different types of pricing strategies and their applications.
Verified Answer
PS
Learning Objectives
- Distinguish between different types of pricing strategies and their applications.
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