Which of the following represent elements of Step 2 of the price-setting process?
A)profit, market share, and survival
B)estimation of demand, sales revenue, and price elasticity
C)cost estimation, marginal analysis, and break-even analysis
D)demand for the product class and brand, newness of the product, and competition
E)market segmentation, targeting, and positioning

Question

Quizplus · Accepted Answer

Estimation of demand, sales revenue, and price elasticity are all elements of Step 2, which involves gathering and analyzing data to understand the market and the potential impact of different pricing strategies. The other options either don't directly relate to this step (A, C) or refer to elements of other steps in the price-setting process (D, E).

Which of the Following Represent Elements of Step 2 of the Price-Setting