QUESTION PROGRESS Click And Drag Introduction ickAnd Drag Introduction Setting Prices at Red Wolf Hardware Read the overview and complete the activities that follow Assume that you are the new manager ot Red Wolf Hardware. The owner of the business is concerned that the company is not ma enough profit from selling hammers and has asked you to start from scratch in how you price the hammers. It is important that you go through the correct steps in order to increase the likelihood you will find the optimal price point for your hammers to drive profits for the company CONCEPT REVIEW: Many factors influence how a firm sets prices. their point of view. Marketing executives in search of substantial profits typically want customers and salespeople often want Thoughtful consideration of the impact on all stakeholders at each step in the price-setting captures value for the firm and delivers value to the customer of Red Wolf Hardware. The owner of the business is concerned that the company is not making A firm's various stakeholders may voice a preference for higher or lower prices depending on high prices across the products they sell, while low prices to increase the perceived customer value and ultimately the number of units sold. process increases the likelihood that the final price glossary