Pricing across a product mix is difficult because various products have related demand and costs, and products face different degrees of competition.

Question

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Pricing across a product mix is a complex process because products within a mix tend to have different demand, costs, and levels of competition. Businesses need to analyze and understand these factors in order to effectively set prices that balance out profitability and market demand. Failure to do so can result in lost revenue, missed opportunities, and other negative consequences.

Pricing Across a Product Mix Is Difficult Because Various Products