List the five steps for determining the price to charge for a ...

[Shelles]

List the five steps for determining the price to charge for a good or service. Provide an example of each step using a sports or entertainment product or event.

Question 2

When purchasing works directly with internal stakeholders to anticipate future requirements, such as during new-product development, or with physician councils in a health care provider, purchasing is acting reactively.
 a. True
  b. False
 Indicate whether the statement is true or false

[daiying98]

Answer to Question 1

Steps include the following:
1 . Establish price objectives.
2 . Determine the cost of the product or service.
3 . Estimate consumer demand for the product or service.
4 . Study the competition.
5 . Decide on a pricing strategy.

Answer to Question 2

FALSE