Q.22) Aakriti has decided to set up a designer studio in Udaipur. Through a survey she has
assessed that the level of competition in this segment is very high and demand for product is
elastic in nature. Describe briefly any 3 factors which Aakriti has not assessed so far and are
likely to affect her pricing decision.
(3)
Answers
Answer:
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Factors affecting price decision
Explanation:
1. Company objectives
Decisions must be undertaken by keeping in view of all the policies related to prices and can fulfill the motive of the company. If the motive of a company is to target the remit on rate of investment ,then the company must focus on the all sales revenues of the company etc.
2. Organisation Structure
When working in the one organisation it is must that the main management is taking all the necessary decisions affiliated to the pricing. So in that context everyone should have the equal right to speak about their views and innovative ideas to increase the pricing skills.
3. Product differentiation
When a product is alike from the other product than it is a new innovation and the skills than it have a good effect on the pricing policy.When a product is different in every way than it have more opportunity to fix the price.