TB Figure: 1
-TB Figure 1 shows there are six distinct steps in the pricing process: identify pricing constraints and objectives; estimate demand and revenue; __________; select an approximate price level; set list or quoted price; and make special adjustments to list or quoted price.
A)estimate cost, volume, and profit relationships
B)scan competitors for price lines for similar products or services
C)select the appropriate pricing formula
D)establish the lowest and highest possible price range

Question

TB Figure: 1 
-TB Figure 1 shows there are six distinct steps in the pricing process: identify pricing constraints and objectives; estimate demand and revenue; __________; select an approximate price level; set list or quoted price; and make special adjustments to list or quoted price.
A)estimate cost, volume, and profit relationships 
B)scan competitors for price lines for similar products or services 
C)select the appropriate pricing formula 
D)establish the lowest and highest possible price range

Quizplus · Accepted Answer

The blank step in the pricing process is to estimate cost, volume, and profit relationships. This is important in determining the most effective price level for the product or service.