Asked by
Jabes37 Gonzalez
on Dec 15, 2024
Verified
Which of these statements about consumer demand as a pricing constraint is most accurate?
A) The price charged by competitors for similar offerings has little effect on the price a seller can charge unless there are very few potential buyers.
B) The number of potential buyers for the product affects the price a seller can charge, but only if the product is using a push strategy in the channel.
C) The number of potential buyers for the product affects the price a seller can charge, but only if the product is a necessity item.
D) The number of potential buyers for the brand affects the price a seller can charge in the growth stage of a product life cycle, but not in the introductory stage.
E) The number of potential buyers generally affects the price a seller can charge.
Consumer Demand
The desire of buyers for goods and services, influencing the quantity that the market can sell at a certain price.
Pricing Constraint
Limitations or conditions that affect how a product or service is priced, such as cost of production, competition, or regulatory compliance.
Potential Buyers
Individuals or entities that are considered likely prospects or leads for purchasing products or services.
- Acquire knowledge about the effect of outside forces, such as prices set by competitors and the demand in the market, on the pricing decisions made by a firm.
- Explore the relationship between price, demand, and the product life cycle stages in setting pricing strategies.
Verified Answer
GC
Learning Objectives
- Acquire knowledge about the effect of outside forces, such as prices set by competitors and the demand in the market, on the pricing decisions made by a firm.
- Explore the relationship between price, demand, and the product life cycle stages in setting pricing strategies.