Question

There are six steps in setting price: (1) identify pricing objectives and constraints; (2) __________; (3) determine cost, volume, and profit relationships; (4) select an approximate price level; (5) set list or quoted price; and (6) make special adjustments to the list or quoted price.

Answer 1

Estimate Demand & Revenue The Six Steps in Pricing Strategy Process 1) Identify Pricing Objectives & Constraints 2) Estimate Demand & Revenue 3) Determine Cost, Volume, & Profit Relationships 4) Select an Approximate Price Level 5) Set List or Quoted Price 6) Make Special Adjustments to list or quoted price