Mention the two kinds of pricing environments which affect the product price

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter M, Problem 1Q

To determine

Mention the two kinds of pricing environments which affect the product price

Expert Solution & Answer

Explanation of Solution

Product price: The price at which the product is sold is referred to as product price.

Factors that affect the product price decisions:

Pricing objectives
Pricing environment
Demand
Cost considerations

The following are the two kinds of pricing environments which affect the product price:

1. The product price is not set by the company, but is set out of the supply and demand forces competing in the market. This is the first kind of pricing environment.
2. The product price is set by the company under the following situations:

When the product is specially designed for the customer
When the product can be manufactured by only some companies, ruling out the competition
When the product is distinct from others

Conclusion

Thus, the two types of pricing environments are (1) product set by the market, and (2) product set by the company.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

Please help me solve this financial accounting problem with the correct financial process.

Please explain the solution to this general accounting problem with accurate principles.

I need help with this general accounting question using standard accounting techniques.

Answer 2

Question

Chapter M, Problem 1Q

To determine

Mention the two kinds of pricing environments which affect the product price

Expert Solution & Answer

Explanation of Solution

Product price: The price at which the product is sold is referred to as product price.

Factors that affect the product price decisions:

Pricing objectives
Pricing environment
Demand
Cost considerations

The following are the two kinds of pricing environments which affect the product price:

1. The product price is not set by the company, but is set out of the supply and demand forces competing in the market. This is the first kind of pricing environment.
2. The product price is set by the company under the following situations:

When the product is specially designed for the customer
When the product can be manufactured by only some companies, ruling out the competition
When the product is distinct from others

Conclusion

Thus, the two types of pricing environments are (1) product set by the market, and (2) product set by the company.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter M, Problem 1Q

To determine

Mention the two kinds of pricing environments which affect the product price

Expert Solution & Answer

Explanation of Solution

Product price: The price at which the product is sold is referred to as product price.

Factors that affect the product price decisions:

Pricing objectives
Pricing environment
Demand
Cost considerations

The following are the two kinds of pricing environments which affect the product price:

1. The product price is not set by the company, but is set out of the supply and demand forces competing in the market. This is the first kind of pricing environment.
2. The product price is set by the company under the following situations:

When the product is specially designed for the customer
When the product can be manufactured by only some companies, ruling out the competition
When the product is distinct from others

Conclusion

Thus, the two types of pricing environments are (1) product set by the market, and (2) product set by the company.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter M, Problem 1Q

To determine

Mention the two kinds of pricing environments which affect the product price

Expert Solution & Answer

Explanation of Solution

Product price: The price at which the product is sold is referred to as product price.

Factors that affect the product price decisions:

Pricing objectives
Pricing environment
Demand
Cost considerations

The following are the two kinds of pricing environments which affect the product price:

1. The product price is not set by the company, but is set out of the supply and demand forces competing in the market. This is the first kind of pricing environment.
2. The product price is set by the company under the following situations:

When the product is specially designed for the customer
When the product can be manufactured by only some companies, ruling out the competition
When the product is distinct from others

Conclusion

Thus, the two types of pricing environments are (1) product set by the market, and (2) product set by the company.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter M, Problem 1Q

To determine

Mention the two kinds of pricing environments which affect the product price

Expert Solution & Answer

Explanation of Solution

Product price: The price at which the product is sold is referred to as product price.

Factors that affect the product price decisions:

Pricing objectives
Pricing environment
Demand
Cost considerations

The following are the two kinds of pricing environments which affect the product price:

1. The product price is not set by the company, but is set out of the supply and demand forces competing in the market. This is the first kind of pricing environment.
2. The product price is set by the company under the following situations:

When the product is specially designed for the customer
When the product can be manufactured by only some companies, ruling out the competition
When the product is distinct from others

Conclusion

Thus, the two types of pricing environments are (1) product set by the market, and (2) product set by the company.

Answer 6

Chapter M, Problem 1Q

To determine

Mention the two kinds of pricing environments which affect the product price

Expert Solution & Answer

Explanation of Solution

Product price: The price at which the product is sold is referred to as product price.

Factors that affect the product price decisions:

Pricing objectives
Pricing environment
Demand
Cost considerations

The following are the two kinds of pricing environments which affect the product price:

1. The product price is not set by the company, but is set out of the supply and demand forces competing in the market. This is the first kind of pricing environment.
2. The product price is set by the company under the following situations:

When the product is specially designed for the customer
When the product can be manufactured by only some companies, ruling out the competition
When the product is distinct from others

Conclusion

Thus, the two types of pricing environments are (1) product set by the market, and (2) product set by the company.

Answer 7

Chapter M, Problem 1Q

To determine

Mention the two kinds of pricing environments which affect the product price

Answer 8

Expert Solution & Answer

Explanation of Solution

Product price: The price at which the product is sold is referred to as product price.

Factors that affect the product price decisions:

Pricing objectives
Pricing environment
Demand
Cost considerations

The following are the two kinds of pricing environments which affect the product price:

1. The product price is not set by the company, but is set out of the supply and demand forces competing in the market. This is the first kind of pricing environment.
2. The product price is set by the company under the following situations:

When the product is specially designed for the customer
When the product can be manufactured by only some companies, ruling out the competition
When the product is distinct from others