There Are Many Common Mistakes in Pricing

question 28

Multiple Choice

There are many common mistakes in pricing. Which of the following is NOT one of the common mistakes?

• A) prices that are set at overly high levels for the market
• B) prices that are not varied enough for different product items and market segments
• C) pricing that is too cost- oriented
• D) prices that are not revised often enough to reflect market changes
• E) pricing that doesn't take the rest of the marketing mix into account

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Definitions:

Resources

Broadly refers to the inputs used to produce goods and services, including natural materials, human labor, capital, and technology.

Scarce

A situation in which available resources are limited in relation to the wants and needs of individuals or communities.

Participatory Planning

A process that involves all stakeholders in the decision-making process of planning, ensuring their views are considered.

Contingency Situations

Unexpected or emergency circumstances that require immediate and flexible responses or adaptations from individuals or organizations.