Which of the following is the first step in setting a pricing policy?
A) selecting a pricing method
B) selecting the pricing objective
C) determining demand
D) estimating cost
E) analyzing competitors' costs, prices, and offers

Question

Quizplus · Accepted Answer

The first step in setting a pricing policy is to determine the pricing objective. This sets the overall goal for the pricing strategy and will guide the selection of pricing methods, estimation of costs, analysis of competitors, and determination of demand.

Which of the Following Is the First Step in Setting