TB Figure: 1
-TB Figure 1 shows there are six distinct steps in the pricing process: identify pricing objectives and constraints; estimate demand and revenue; determine cost,volume,and profit relationships; select an approximate price level; set list or quoted price; and __________.
A)test market the product or service to check for elasticity of demand
B)scan competitors for price lines for similar products or services
C)make special adjustments to list or quoted price
D)select the appropriate pricing formula

Question

TB Figure: 1 
-TB Figure 1 shows there are six distinct steps in the pricing process: identify pricing objectives and constraints; estimate demand and revenue; determine cost,volume,and profit relationships; select an approximate price level; set list or quoted price; and __________.
A)test market the product or service to check for elasticity of demand 
B)scan competitors for price lines for similar products or services 
C)make special adjustments to list or quoted price 
D)select the appropriate pricing formula

Quizplus · Accepted Answer

The sixth step in the pricing process is to make special adjustments to the list or quoted price. This step involves considering various factors such as discounts, allowances, and promotional pricing, among others, to arrive at the final price that the customer will pay. The other options listed are either completed earlier in the process (options A and B) or not part of the pricing process (option D).