A firm must consider many factors in setting its pricing policy.We list these as a six-step process.Which of the following is NOT one of these steps
A) Determining demand
B) Selecting the pricing objective
C) Researching reference prices in the target market
D) Selecting the final price
E) Selecting a pricing method

Question

Quizplus · Accepted Answer

Although researching reference prices in the target market can be helpful in determining an appropriate price range, it is not a required or universal step in the pricing process. The other steps listed (determining demand, selecting the pricing objective, selecting the final price, selecting a pricing method) are all commonly recognized as key components of setting a pricing policy.

A Firm Must Consider Many Factors in Setting Its Pricing