Question

Explain briefly any three factors to which the marketer should pay attention

before fixing the price of a product.
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Answer 1

Answer:

Factors affecting pricing decision are:

• Price must be decided by adding a profit margin to the average cost of the product. The Utility and Demand.
• It is necessary to anticipate the utility and demand of a product, while fixing the price, as if a product is offering higher utility
• One can easily charge high price

Explanation:

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