State and explain the five Considerations (C's) in setting the price for a product or service. Five C’s of PRICE • Costs (fixed, variable, total, break-even) • Consumers (market & demand, market situation: PM,PC, MC, OC) • Competitors (going rate, sealed-bid) • Company’s marketing objectives (penetration, survival, share, profit) • Control of government (regulations, adjustments, subsidies)

State and explain the five Considerations (C's) in setting the price for a product or service. Five C’s of PRICE • Costs (fixed, variable, total, break-even) • Consumers (market & demand, market situation: PM,PC, MC, OC) • Competitors (going rate, sealed-bid) • Company’s marketing objectives (penetration, survival, share, profit) • Control of government (regulations, adjustments, subsidies)

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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