Pricing Constraints Are

question 236

Multiple Choice

Pricing constraints are:

• A)factors that limit the latitude of prices a firm may set.
• B)barriers that must be overcome in order to set pricing objectives.
• C)competitive pricing advantages one firm has over another.
• D)different pricing strategies for each of the firm's products.

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Definitions:

Product Differentiation

The process of distinguishing a product or service from others in the market to make it more attractive to a particular target market.

Perceptual Map

is a visual tool used in marketing to display the position of a brand or product in the minds of consumers relative to competitors.

Minds of Adults

The cognitive processes, understanding, and psychological aspects characteristic of adult individuals.

Market Segmentation

The process of dividing a broad consumer or business market into sub-groups of consumers or segments based on shared characteristics.