Question

A company manufacturing shirs for a departnment store

Answer 1

FULL QUESTION----A company manufacturing shirts for a department store decides to create a new style of cotton shirt. The company would most likely produce shirts that will sell at a high price. be less costly to create. use a nonrenewable resource. satisfy the wants and needs of consumers



Answer

Be less costly to create

Explanation

Price is the value that is put to products and services after doing the calculations of what the good or product has consumed for it to be worth in the market.A pricing strategy takes into account segments, ability to pay, market conditions, competitor actions, trade margins and input costs, amongst others. For new products to penetrate in the market you must first find out how much the customer can afford to pay for a product as well as what the competitors charge. So a company manufacturing shirts for a department store decides to create a new style of cotton shirt should produce shirts that are less costly to create so that they can be able to penetrate in the market.