Which of these is the step in setting a final price for a product that occurs immediately after determining cost, volume, and profit relationships?
A) set list or quoted price
B) select an approximate price level
C) scan competitors for prices of similar products or services
D) estimate demand and revenue
E) identify pricing objectives and constraints

Question

Quizplus · Accepted Answer

After determining cost, volume, and profit relationships, the next step is to select an approximate price level, which involves deciding on a pricing strategy that aligns with the company's objectives and market conditions.

Which of These Is the Step in Setting a Final