When Pricing a New Product, a Small Business Owner Should

question 42

Multiple Choice

When pricing a new product, a small business owner should strive to always satisfy which three objectives?

• A)Product acceptance, maintaining market share, and earning a profit.
• B)Quick acceptance, extensive distribution, and quickly recovering costs.
• C)Recovering initial development costs, recovering initial promotional costs, and discouraging competition.
• D)Discouraging competition, recovering development costs, and developing a prestige image.

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Definitions:

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An academic achievement awarded by colleges or universities upon completion of a course of study, signifying the recipient's education level in a specific field.

Specific Major

A particular field of study chosen by a student to specialize in during their undergraduate or graduate education.

Undeclared Major

A status for college students who have not yet selected a specific field of study.

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