Influences on pricing decisions
Two of the major influences on pricing decisions are customer demand and the actions of competitors.
i. What are the other two major influences?
ii. Briefly describe customer demand and actions of competitors.
iii. In the text example, Sydney Sailing Supplies faced the question of defining its own products narrowly as sailing supplies or more broadly as boating supplies. Explain why these definitions could influence how the management of Sydney Sailing Supplies views either 'customer demand or actions of competitors'.

Question

Quizplus · Accepted Answer

The Answer of Influences on pricing decisions
Two of the major influences on pricing decisions are customer demand and the actions of competitors.
i. What are the other two major influences?
ii. Briefly describe customer demand and actions of competitors.
iii. In the text example, Sydney Sailing Supplies faced the question of defining its own products narrowly as sailing supplies or more broadly as boating supplies. Explain why these definitions could influence how the management of Sydney Sailing Supplies views either 'customer demand or actions of competitors'.

Influences on Pricing Decisions