Question

Describe a pricing decision your company has made. was it optimal? if not, why not? how would you adjust price? compute the profit consequences of the change

Answer 1

General Motors company  have embraced many of the competitive price decisions. For instance , a simple pricing strategy.

Simple pricing strategy approach involves setting  of prices which  depends upon what your rival companies are offering as well as maintaining the quality of the products and services  offered by you.

In this case, you should increase the number of sales by initiating different types of discounts.

This price decision taken by simple pricing strategy is optimal since it has maximized the profits on all products and services offered by General Motors Company.

Price adjustments could be made by understanding our customer needs and the quality of the product or services the customers want. The profit consequences in terms of price adjustment are relatively high since we are able to exceed the production than the demand.

To know more about simple pricing strategy here:

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