The pricing model in your text, has six distinct steps in the pricing process. Considering the following list of steps in setting prices: identify pricing constraints and objectives; estimate demand and revenue;___________; select an approximate price level; set the list or quoted price; and make special adjustments to the list or quoted price.
A)estimate cost, volume, and profit relationships
B)select the appropriate pricing formula
C)scan competitors for price lines of similar products or services
D)establish the lowest and highest possible price range

Question

Quizplus · Accepted Answer

Estimating cost, volume, and profit relationships is the next step in the pricing process after estimating demand and revenue. This step is important in order to ensure that the price level selected is profitable and feasible for the company.

The Pricing Model in Your Text, Has Six Distinct Steps