Carianne Works for Kenny

question 27

Essay

Carianne works for Kenny.Kenny insists that when deciding which pricing objectives to use, you just think of what you want and make it happen, independent of external factors.Carianne knows better and is trying to explain to Kenny the importance of pricing objectives and how they relate to other aspects of the business.How should Carianne explain this to Kenny?

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Definitions:

Relatively Higher

A comparative term indicating that one variable or item is of greater magnitude or intensity compared to another or the general context.

Competitive Industry

An industry characterized by many sellers, where no single company can control market prices.

Barriers To Entry

Factors that prevent or hinder companies from entering a particular market or industry.

Barriers To Exit

Factors that make it difficult or costly for a company to leave a market or industry.