Which of the following statements regarding pricing objectives is most accurate?
A)Generally, the greater the demand for a product, the higher the price that can be set.
B)At the corporate level, when setting pricing objectives and constraints, a firm must disregard current conditions in the marketplace because they are too temporal for long-term planning.
C)Pricing objectives must always be set, but they are rarely achieved; they provide a framework rather than actual expectations.
D)It is possible to create pricing objectives with the greatest range possible in order to anticipate any and all changes in the marketing environment.
E)Even if a firm is trying to satisfy its obligations to its customers and society, in general it should never forego making a profit.

Question

Quizplus · Accepted Answer

The statement "Generally, the greater the demand for a product, the higher the price that can be set" is accurate as it reflects the basic concept of supply and demand in economics. As demand increases, the price of the product can be raised to maximize profit.

Which of the Following Statements Regarding Pricing Objectives Is Most