Probably the Most Important Consideration a Manufacturer Has When Setting

question 31

Multiple Choice

Probably the most important consideration a manufacturer has when setting the final price of its new exclusive perfume is:

• A)the perfume's production cost.
• B)competitor's prices.
• C)the image the company wants to create for the scent in the customer's mind.
• D)choosing between odd pricing and price lining.

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Definitions:

Seller

An individual or entity that offers goods or services in exchange for monetary compensation or other benefits.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a given period of time.

Total Revenue

The total income received by a firm from the sale of its products or services.