Describe the three categories of the major pricing decisions made by carriers
First, a decision must be made when setting prices on a new service. This is a difficult decision because it is based on little knowledge regarding market elasticity to prices, and the actual cost of providing the service. Second is the decision to modify prices over time. Market changes, operating changes, and service changes may require price changes. Of concern is how and when to announce the price changes. Third are the decisions to initiate and respond to price changes. How this decision is made has a substantial impact on market share and profits.
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Which of the following pricing objectives is useful only when the product has a monopoly or near monopoly position so that the market will produce the needed sales volume at the price set?
A) penetration pricing B) skimming C) investment pricing D) competitive pricing
A detailed version of a product idea stated in meaningful consumer terms is a ________
A) product feature B) product concept C) product idea D) product image E) product framework
Conversion costs are usually incurred evenly throughout a process
Indicate whether the statement is true or false
A handout containing meeting time, date, place, and items to be discussed is called an agenda
Indicate whether the statement is true or false