It is the responsibility of __________ to determine the ethical approach to setting prices so consumers find value and the firm can make a profit.
A) the Better Business Bureau
B) federal regulators
C) the American Marketing Association
D) marketers themselves
E) industry standards boards

Question

Quizplus · Accepted Answer

Marketers themselves have the responsibility to determine the ethical approach to setting prices so that consumers find value and the firm can make a profit. Marketers need to balance the customer’s perceived value of the product or service, the cost of producing and distributing it, and the price that the competition is offering. Marketers must ensure that they set prices that are fair to both the customers and the firm. It is their ethical responsibility to determine this balance. Other entities such as the Better Business Bureau, federal regulators, the American Marketing Association, or industry standards boards may provide guidance, but it is ultimately up to the marketers to determine the ethical approach to pricing.

It Is the Responsibility of __________ to Determine the Ethical