TB Figure: 1

question 63

Multiple Choice

TB Figure: 1
-TB Figure 1 shows there are six distinct steps in the pricing process.Considering the following list of steps in setting price: estimate demand and revenue; estimate cost,volume,and profit relationships; select an approximate price level; set list or quoted price; and make special adjustments to list or quoted price.Which of the following steps is missing from this list?

• A)raise initial capital
• B)identify pricing constraints and objectives
• C)scan competitors for price lines for similar products or services
• D)select the appropriate pricing formula

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Definitions:

Cyber Crime

Criminal activities carried out by means of computers or the internet, including hacking, fraud, and identity theft.

Identity Theft

The fraudulent acquisition and use of a person's private identifying information, usually for financial gain.

Self-Defense

A legal defense theory that allows an individual to use reasonable force to protect themselves from harm.

Criminal Liability

The legal responsibility for actions that breach the laws which dictate prohibited conduct, potentially resulting in prosecution and punishment.