Judith started her business in 1995.During the years,she sold different products she purchased from distributors and manufacturers.One day,she came up with a new product.She patented the product and got started to sell the product.What should be the objectives of her pricing strategies?
A)Get the product accepted
B)Maintain market share as competition grows
C)Earn a profit
D)All of the above

Question

Quizplus · Accepted Answer

Judith's pricing strategies should have all three objectives: getting the product accepted, maintaining market share as competition grows, and earning a profit. Getting the product accepted would involve setting a price that is attractive to potential customers and encourages them to try the product. Maintaining market share as competition grows would involve periodically reviewing and adjusting the price to ensure that it remains competitive in the market. Earning a profit would involve setting a price that covers the costs of production and generates a suitable level of profit for the business. Therefore, all three objectives are important for a successful pricing strategy.

Judith Started Her Business in 1995