Both revenues and costs need to be taken into account in selecting pricing strategies.

Question

Quizplus · Accepted Answer

Both revenues and costs play a crucial role in determining the pricing strategies. In order to set a price that generates profits, a company needs to consider the costs incurred in producing and selling the product, while also ensuring that the price is attractive enough for customers to buy, generating revenue for the company. Therefore, the pricing strategies should focus on balancing both revenues and costs.

Both Revenues and Costs Need to Be Taken into Account