3M decided the retail price for the Greptile Grip golf glove would be $16.95 and then worked backward through markups taken by retailers and wholesalers to determine what price it can charge wholesalers for the product,the firm would most likely be practicing a __________ strategy.

Question

Quizplus · Accepted Answer

This scenario describes target pricing, which involves determining the desired retail price and then working backward to determine the allowable cost and wholesale price. This strategy ensures that the product is priced competitively in the market while still generating enough profit for the company.

3M Decided the Retail Price for the Greptile Grip Golf