Question : Which factor affecting price determination is highlighted in the given statement? Statement: The decision is affected by various other elements of marketing such as distribution system,quality of salesman employed,etc
Option 1: Pricing objectives
Option 2: Utility and demand of the product
Option 3: Marketing methods used
Option 4: Government and legal regulations
Correct Answer: Marketing methods used
Solution : The pricing decision is affected by various other elements of marketing such as distribution system, quality of salesman employed, quality and amount of advertising, sales promotion effort, types of packaging, product differentiation, credit facility and customer services provided, etc.
Hence, option C is correct.
Question : Which factor affecting price determination is highlighted in the given statement? Statement: If the firm aims to maximize profits in the short run then it would fix maximum price for its products.
Option 3: Extent of competition in the market
Question : Which factor affecting price determination is highlighted in the given statement? Statement: It is affected by intensity or price elasticity of demand.
Option 1: Product cost
Question : Which factor affecting price determination is highlighted in the given statement? Statement: It is also affected by price control by the government.
Question : Which factor affecting price determination is highlighted in the given statement? Statement: It must reflect the interest of both buyers and sellers.
Question : Which factor affecting price determination is highlighted in the given statement? Statement: It cannot be fixed without considering the nature and the degree of competition.
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