• Page 1 • In addition to setting a regular price, pricing also encapsulates the discounts and promotions used in relation to price to get customers to buy a product or service. • Businesses are dependent on proper pricing to make a profit on what they sell, so they can grow and support their employees, owners, and expenses. • A business has three main objectives that affect how it makes pricing decisions to maximize profits: revenue, growth, and social factors. Pricing Strate...