Key to Setting a Final Price for a Product Is

question 286

Multiple Choice

key to setting a final price for a product is finding an approximate price level to use as a reasonable starting point.Four common approaches to selecting an approximate price level are: (1) demand-oriented; (2) __________; (3) profit-oriented; and (4) competition-oriented approaches.

• A) cost-oriented
• B) cause-oriented
• C) revenue-oriented
• D) stakeholder-oriented
• E) distribution-oriented

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Definitions:

Tailor Customer Promotions

Custom-designed marketing activities aimed at offering specific customer groups incentives that cater to their unique preferences or purchasing history.

Generate Coupons

The process of creating vouchers or codes that consumers can redeem for a discount on goods or services.

Customer Segmentation Analysis

A method of analyzing data that creates customer profiles and categorizes them.

Customer Profiles

Detailed descriptions of a business's typical or ideal customers, including demographic, psychographic, and behavioral traits.