$16\mathrm{.}32$ Market$-$based pricing; relevant information

Frosty Treats, a boutique ice cream shop, has asked your advice in setting pricing policies. Frosty Treats manager has collected

information about prices and sales over the last four years.

Required

$($a$)$ Explain how you would use the prices and sales information to suggest a possible pricing strategy.

$($b$)$ What other information would you gather before you complete your recommendation? List as many types of information

as you can.