The Three Major Considerations in Price Setting Are: Costs Set

question 36

Multiple Choice

The three major considerations in price setting are: costs set the floor price; ________; and customers' assessment of unique features establishes the price ceiling.

• A) competitors' prices and the price of substitutes provide an orientation point
• B) competitors' prices establishes a "target price" goal
• C) the price of substitutes establishes a "target price"
• D) the price of competitors and substitutes does not enter into the pricing considerations.
• E) none of the above

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Definitions:

Groupware

Software designed to help people work together more effectively, often through sharing information or collaborating in real time over a network.

Collaborative Computing

The use of computer technology to enhance the collective work made by teams of people, enabling better communication, data sharing, and project management.

Humor

The quality of being amusing or entertaining, often used as a tool to enhance interpersonal relationships and workplace culture.

Inspiration

The process of being mentally stimulated to do or feel something, especially to do something creative or achieve goals.