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What factors influence the pricing strategy for products with elastic demand?

Factors that influence the pricing strategy for products with elastic demand include the availability of substitute products, consumer income levels, and the overall market competition.


What are the 6 stages involved in establishing prices?

Determine pricing objectives Evaluate costs Analyze competitors' prices Set pricing strategy Determine pricing tactics Review and make adjustments


What are the internal factors which will affect what you charge?

Internal factors that may affect pricing decisions include production costs, desired profit margins, company goals and objectives, pricing strategy, and the need for cash flow. Additionally, factors such as brand positioning, market positioning, and product differentiation can also influence pricing strategies.


What are four pricing objectives?

Four pricing objectives are competitive, prestige, profitability, and volume pricing.


How do you handle prices effectively in your business strategy?

To handle prices effectively in your business strategy, you can conduct market research to understand customer preferences and competitor pricing, set clear pricing objectives based on your business goals, regularly review and adjust prices based on market conditions, and communicate the value of your products or services to justify your pricing strategy.


What are the advantages and disadvantages of pricing strategy?

what is premium pricing strategy


What are the advantages and disadvantages of premium pricing strategy?

what is premium pricing strategy


What is the pricing structure of Adidas?

It is a pricing strategy


Features of managerial economics?

There are several features of managerial economics. They include assessing the market competition, following a pricing strategy, and following legal regulations.


Establishing pricing objectives are examples of steps of a sale true or false?

It is true. Always establish pricing objectives.


What is pricing practices in managenerial economics?

The pricing practices in managerial economics refers to what type of price strategy an industry is having in the market.A pricing strategy followed by an industry depends up on the present market conditions and importantly upon the objectives of an industryan industry can follow :- Nonprofit maximisation having object of sales maximisationlimit pricingprice discriminationnon managerial pricingmulti product pricingpeak load pricingtransfer pricing


What is pricing strategy of Adidas?

the pricing strategies are unit prcing