Which of the following statements is true of pricing strategy?
A) Small businesses should have smaller prices too.
B) Most consumers decide on a product using price as the number one factor.
C) An entrepreneur's first goal in pricing is to set the price as high as they think they can.
D) Avoid sale prices as they lead to price wars.

Question

Quizplus · Accepted Answer

Entrepreneurs often aim to set prices as high as the market will bear to maximize profits, while considering factors like value perception and competition.

Which of the Following Statements Is True of Pricing Strategy