Basic to setting a product's price is the extent of ________. This information is used in estimating the revenues the firm expects to receive.
A) management's commitment to the product relative to other products in the line
B) the product line into which it will be introduced
C) customer demand for it
D) the firm's promotional budget
E) distribution requirements

Question

Quizplus · Accepted Answer

Customer demand is fundamental in setting a product's price as it helps estimate the potential revenue based on how much consumers are willing to pay.

Basic to Setting a Product's Price Is the Extent of ________