While setting up an initial price structure for a product,a marketer should primarily:
A)discount environmental and external factors.
B)consider the recommended price to final consumers.
C)overlook the number of products sold by competitors.
D)de-emphasize profit potential.

Question

Quizplus · Accepted Answer

When setting up an initial price structure for a product, a marketer should primarily consider the recommended price to final consumers. This is because the price should be set at a level that consumers are willing to pay and that will generate sufficient revenue for the company. Discounting environmental and external factors, overlooking the number of products sold by competitors, and de-emphasizing profit potential are not effective strategies for setting an initial price structure.

While Setting Up an Initial Price Structure for a Product,a