Discuss the importance of pricing decisions to the economy and to the individual firm.

Pricing plays an integral role in the U.S. economy by allocating goods and services among consumers, governments, and businesses. Pricing is essential in business because it creates revenue, which is the basis of all business activity. In setting prices, marketing managers strive to find a level high enough to produce a satisfactory profit.

How does price allocate goods and services?

Question

Discuss the importance of pricing decisions to the economy and to the individual firm.

Pricing plays an integral role in the U.S. economy by allocating goods and services among consumers, governments, and businesses. Pricing is essential in business because it creates revenue, which is the basis of all business activity. In setting prices, marketing managers strive to find a level high enough to produce a satisfactory profit.

How does price allocate goods and services?

Course Hero · Accepted Answer

ng elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat,

Book Edition	7th Edition
Author(s)	Hair, Lamb
ISBN	9780538478342
Publisher	Cengage Learning
Subject	Business

Essentials of Marketing (7th Edition)See all exercises

Essentials of Marketing (7th Edition)

Verified Answer and Explanation

Explanation

Verified Answer

We have step-by-step solutions for your textbook!

Related Exercises