You are head of sales and marketing for your cowboy boots manufacturing firm.It has been a chaotic product year,with a great deal of input from many stakeholders: consumer advocacy groups,employees,competitors,and shareholders.You are meeting with the CEO to establish pricing objectives for the upcoming product year.
Required:
Which of the following factors will you consider as you establish your firm's pricing objectives?

Question

You are head of sales and marketing for your cowboy boots manufacturing firm.It has been a chaotic product year,with a great deal of input from many stakeholders: consumer advocacy groups,employees,competitors,and shareholders.You are meeting with the CEO to establish pricing objectives for the upcoming product year. ​
​Required:
Which of the following factors will you consider as you establish your firm's pricing objectives?

Quizplus · Accepted Answer

When establishing pricing objectives, the most important factor to consider is the firm's survival. The pricing strategy must ensure that the company earns sufficient revenue to cover its expenses and generate profits to guarantee its survival in the long term. While consumer advocacy groups and competitors' complaints might influence pricing decisions, they should not be the primary factor in determining pricing objectives. Sales reps' compensation packages and dissident shareholders' complaints are also not the main factors that should be considered.

You Are Head of Sales and Marketing for Your Cowboy