BUISENESS MANAGEMENT
MARKETING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
A factor that does not influence price is:
|
|
The cost of production
|
|
|
The cost of the item 10 years ago
|
|
|
The competitive environment
|
|
|
Whether it is a new or existing product to the market
|
Explanation:
Detailed explanation-1: -Therefore, from the above explanation, consumer behavior for a given product is not an internal factor in pricing decisions.
Detailed explanation-2: -The most important factor is the cost of production. In deciding to market a product, a firm may try to decide what prices are realistic, considering current demand and competition in the market.
There is 1 question to complete.