While Setting Up an Initial Price Structure for a Product

question 33

Multiple Choice

While setting up an initial price structure for a product, a marketer should primarily:

• A) discount environmental and external factors.
• B) consider the recommended price to various channel members.
• C) overlook number of products sold by competitors.
• D) de-emphasize profit potential.

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Definitions:

Stable

A term describing something that is unchanging, firmly established, or not prone to fluctuations.

Metaphysical

Pertaining to the fundamental nature of reality and being that goes beyond the physical world and includes concepts such as existence, objects and their properties, space, and time.

Physical Environment

The physical environment encompasses all the physical and material surroundings, including natural landscapes and built environments, that can influence behavior and well-being.

Social Environment

The surrounding of an individual that includes social relationships, culture, and institutions that influence their life and development.