While Cost Is One Important Factor in Regard to Pricing

question 37

Essay

While cost is one important factor in regard to pricing model considerations, another equally important factor is the relationship between how a product or service is priced and a company's goals. Briefly identify the typical goals and their impact on price.

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Definitions:

United States Law

The body of laws, regulations, and judicial decisions that governs the legal system in the United States.

Unilateral

Pertaining to an action or decision made by one party or side without the agreement or consent of others.

Mutual

Pertaining to feelings, obligations, or relationships experienced or carried out by two parties towards each other.

Contract Rescission

The legal cancellation or termination of a contract, returning all parties to their positions prior to the agreement.