There are six steps in setting price: (1) identify pricing objectives and constraints; (2) __________; (3) determine cost, volume, and profit relationships; (4) select an approximate price level; (5) set list or quoted price; and (6) make special adjustments to the list or quoted price.
Estimate Demand & Revenue
The Six Steps in Pricing Strategy Process
1) Identify Pricing Objectives & Constraints
2) Estimate Demand & Revenue
3) Determine Cost, Volume, & Profit Relationships
4) Select an Approximate Price Level
5) Set List or Quoted Price
6) Make Special Adjustments to list or quoted price
