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Determine profit maximizing price for a product or service

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Reference no: EM13969557 , Length:

Discussion - Pricing Decisions. "Cite all references and sources used".

Instructions: According to economic theory: How would a manager determine the profit maximizing price for a product or service?

Why is setting an appropriate price one of the most difficult decisions a manager makes?

Why is a pricing policy important and what are some of the objectives of a pricing policy?

How does a pricing policy help companies differentiate their brands from their competitors?

Are there ethics involved in pricing and what are they? Use proper grammar.

Verified Expert

This is a 300 words answer related to the pricing policy. Companies use several types of pricing policy as per market strategy. The answer is a short answer to the question and focused on pricing policy adoption.

Reference no: EM13969557

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