While Setting the Price of a Product,what Must Managers Consider

question 212

Multiple Choice

While setting the price of a product,what must managers consider?

• A)cost of the whole marketing mix
• B)buying capacity of the customers
• C)profit it should bring the company
• D)transportation cost
• E)personnel cost to the company

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Definitions:

Sole Proprietorship

A business structure where a single individual owns, operates, and is responsible for the business, enjoying all profits and bearing all losses.

Limited Liability Corporation

A business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.

Non-Profit Organization

is an entity that operates for a collective, public, or social benefit rather than generating profits for owners or investors.

Professional Corporation

A type of corporate structure available to professionals like lawyers, doctors, and accountants, which offers certain legal and financial protections.