All of the following statements about price are true except which?
A)Small changes in price can have big effects on both the number of units sold and company profit.
B)The price for a product or service must earn a profit for the company.
C)For most products and services,there is an agreed-upon price range set by makers.
D)The price must be "right"-in the sense that customers must be willing to pay it.
E)The price must generate enough sales dollars to pay for the cost of developing,producing,and marketing the product.

Question

All of the following statements about price are true except which?
A)Small changes in price can have big effects on both the number of units sold and company profit.
B)The price for a product or service must earn a profit for the company.
C)For most products and services,there is an agreed-upon price range set by makers.
D)The price must be "right"-in the sense that customers must be willing to pay it.
E)The price must generate enough sales dollars to pay for the cost of developing,producing,and marketing the product.

Quizplus · Accepted Answer

Among all marketing and operations factors in a business firm,price has a unique role.It is the place where all other business decisions come together.The price must be "right"-in the sense that customers must be willing to pay it;it must generate enough sales dollars to pay for the cost of developing,producing,and marketing the product;and it must earn a profit for the company.Small changes in price can have big effects on both the number of units sold and company profit.

All of the Following Statements About Price Are True Except Which