Question: Price Setting There are multiple techniques available to marketing managers for setting prices. These techniques are structured and methodical. For this discussion, identify and describe

Price Setting

There are multiple techniques available to marketing managers for setting prices. These techniques are structured and methodical. For this discussion, identify and describe three techniques and the environment or product circumstances for which they are best suited.Be sure to discuss the emotional aspects of pricing. How do emotions influence what customers are willing to pay for a product?

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1 Costbased pricing This technique involves setting prices based on the costs incurred in producing and distributing a product along with a desired profit margin It is best suited for products or indu... View full answer

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