The Development of a Pricing Strategy for a New or an Existing

question 39

Multiple Choice

The development of a pricing strategy for a new or an existing product should begin with:

• A) the creation of a product prototype.
• B) an analysis of consumer-product relationships.
• C) the creation of a strong advertising campaign.
• D) the finalization of all other aspects of the marketing mix.
• E) the choice of an external price reference.

---

Definitions:

Workplace Bad News

Unfavorable or discouraging information that needs to be communicated within a professional setting.

Deliver In Person

The act of physically handing over a document or item directly to the intended recipient, rather than using mail or electronic means.

Justify

To provide reasons or evidence in support of an argument, action, or decision.

Direct Strategy

A communication approach that involves stating the main point or objective at the beginning, often used when the message is not contentious or when clarity is paramount.