One of the most important strategic decisions a firm faces is _______ because it reflects the value the product delivers to consumers as well as the value it captures for the firm.
A)promotion
B)production management
C)pricing
D)advertising
E)profit management

Question

Quizplus · Accepted Answer

Pricing is the most important strategic decision for a firm as it determines both the value delivered to consumers and the value captured by the firm. The price of a product or service determines the revenues a firm can generate, which affects profitability and long-term success. Pricing also affects the perceived value of a product and influences consumer behavior. Therefore, pricing strategy is a critical component of a firm's overall marketing strategy.

One of the Most Important Strategic Decisions a Firm Faces