BUISENESS MANAGEMENT
MARKETING
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A factor that does not influence price is:
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The cost of production
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The cost of the item 10 years ago
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The competitive environment
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Whether it is a new or existing product to the market
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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.
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