The pricing model in your text, has six distinct steps in the pricing process. Considering the following list of steps in setting prices: identify pricing objectives and constraints; estimate demand and revenue; determine cost, volume, and profit relationships; _______; set the list or quoted price; and make special adjustments to the list or quoted price.
A)raise initial capital
B)select an approximate price level
C)scan competitors for price lines of similar products or services
D)select the appropriate pricing formula

Question

Quizplus · Accepted Answer

The missing step in the list is to select an approximate price level, which is necessary before scanning competitors for price lines of similar products or services. The other options (A, C, D) are not part of the pricing process steps.

The Pricing Model in Your Text, Has Six Distinct Steps