Figure 13-2 above represents the six steps in setting price."B" represents the step at which a firm would
A)estimate demand and revenue.
B)identify pricing objectives and constraints.
C)scan competitors for prices of similar products or services.
D)select the appropriate pricing formula.
E)determine cost,volume,and profit relationships.

Question

Quizplus · Accepted Answer

At step "B", a firm would estimate demand and revenue, which is crucial for setting an appropriate price.

Figure 13-2 Above Represents the Six Steps in Setting Price