Three major influences on pricing decisions are ________.
A) competition, costs, and customers
B) competition, demand, and production efficiency
C) continuous improvement, customer satisfaction, and supply
D) variable costs, fixed costs, and mixed costs

Question

Quizplus · Accepted Answer

Competition affects pricing decisions as businesses need to price their products competitively to attract customers. Costs also play a significant role in pricing decisions as businesses need to ensure that they cover their variable and fixed costs to make a profit. Finally, customers also influence pricing decisions as a business needs to ensure that their prices are acceptable to customers in the market.

Three Major Influences on Pricing Decisions Are ________