All of the following statements about price are true except A. the price must ge
ID: 1110088 • Letter: A
Question
All of the following statements about price are true except
A. the price must generate enough sales dollars to pay for the cost of developing, producing, and marketing the product.
B. small changes in price can have big effects on both the number of units sold and company profit.
C. the price for most products and services is always the same.
D. the price for a product or service must earn a profit for the company.
E. the price must be "right"—in the sense that customers must be willing to pay it.
Explanation / Answer
Ans)
C. the price for most products and services is always the same.
All of the above other than C is correct.A price must be able to cover up the total costs, generate a profit and customers must be willing to pay it as well as small changes in prices can have high changes in units sold and hence profit.It is not necessary that goods and services would have similar pricing.