BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Profits
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Advertising
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Value & image
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Product & management
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Detailed explanation-1: -Pricing is the Key to Increasing Profits That is to say, pricing becomes more of a reflection of their costs, or competitors’ price tags than a function of how to strategically increase a company’s own profitability.
Detailed explanation-2: -Profitability is the ratio between a business’s income and its expenses. A business determines its income by calculating the money the business generates through its operations and activities.
Detailed explanation-3: -Price is dependent on the interaction between demand and supply components of a market. Demand and supply represent the willingness of consumers and producers to engage in buying and selling. An exchange of a product takes place when buyers and sellers can agree upon a price.
Detailed explanation-4: -Price often builds an image of the product. Consumers often believe that high priced products are of high value and benefit than low priced product. Marketers also use price to position their products superior in the minds of the consumer.