Setting the Price Is One of the Most Difficult Tasks

question 175

Essay

Setting the price is one of the most difficult tasks that a marketing manager faces.Using Figure 12-8 above, identify the three generalized steps that are useful to follow when setting a final price.

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Definitions:

Hypothesis

A proposed explanation made on the basis of limited evidence as a starting point for further investigation.

Manifest Content

The overt, concrete content of a communication as opposed to the underlying meaning or interpretation.

Latent Content

The underlying, non-obvious meanings and themes in a piece of communication, as opposed to its explicit, surface content.

Content Analysis

A research method for systematically analyzing texts or media to quantify patterns in communication.