BUAD 332 EXAM 3|174 Questions with 100% Correct Answers | Updated | Download to score A+

price definition: narrowly - ️️the amount of money charged for a product or service price definition: broadly - ️️the sum of all the values that consumers exchange for the benefits of having or using the product or service internal factors affecting price decisions - ️️marketing objectives marketing mix strategies costs organizational considerations external factors affecting price decisions - ️️nature of the market and demand competition other environmental factors (economy, gov, resellers, social concerns) internal factors affecting pricing decisions: marketing objectives - ️️survival, current profit maximization, market share leadership, product quality leadership marketing objectives: survival - ️️low prices hoping to increase demand marketing objectives: current profit maximization - ️️choose the price that produces the maximum current profit marketing objectives: market share leadership - ️️low as possible prices to become the market share leader