The pricing model in the text has six distinct steps in the pricing process. In the first step a firm would:
A)select the appropriate pricing formula.
B)scan competitors for price lines of similar products or services.
C)raise initial capital.
D)identify pricing objectives and constraints.

Question

Quizplus · Accepted Answer

The first step in the pricing process is to identify pricing objectives and constraints. This includes deciding what the company wants to achieve through pricing (such as increasing market share or maximizing profits) and considering any external factors that may impact pricing decisions (such as legal or ethical constraints).

The Pricing Model in the Text Has Six Distinct Steps