Judith Started Her Business in 1995

question 59

Multiple Choice

Judith started her business in 1995.During the years,she sold different products she purchased from distributors and manufacturers.One day,she came up with a new product.She patented the product and got started to sell the product.What should be the objectives of her pricing strategies?

• A)Get the product accepted
• B)Maintain market share as competition grows
• C)Earn a profit
• D)All of the above

---

Definitions:

Prescriptive

Relating to providing guidance or recommendations on what actions to take, often based on analytical models.

Predictive

Relating to the ability to use known data to forecast the value, trend, or likelihood of an event happening in the future.

Descriptive

Pertains to statistical methods used to summarize, show, or describe data features without drawing conclusions or inferring from the sample to the population.

Categories

Distinct groups or classifications into which items or observations are divided based on shared qualities or characteristics.