Describe a situation in which a company might adopt a pricing objective other than profit maximization
What will be an ideal response?
Answer: Sometimes a firm may value establishing market share over making immediate profits. Companies may set an initially lower price to get buyers to try products. In such a case, the firm would defer profits to a later time. In addition, companies are also influenced by the need to compete in the marketplace, by social and ethical concerns, and by corporate image. Pricing objectives are the goals that sellers hope to achieve in pricing products for sale. Some companies have profit-maximizing pricing objectives, while others have market share pricing objectives.
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The name, term, or symbol used to identify a business and its products is called
a. goodwill b. a trademark c. a patent d. a copyright
A work sheet is prepared
a. from [date] to [date]. b. for the [period] ended [date]. c. at any time in the accounting period. d. always on December 31.
Net income for the year was $29,500 . Accounts receivable increased $2,500, and accounts payable increased$5,400 . There were no other changes in noncash current assets and liabilities. Under the indirect method, the cashflow from operations is $32,400
a. True b. False Indicate whether the statement is true or false
________ is a notion that costs fall with cumulative production or delivery of a service and that, using the first few years of a product's life as a yardstick, the continued decline in costs is predictable
A) Benchmarking B) Experience curve C) Economies of scale D) Reintermediation