Answer to Question #125060 in Marketing for Ally Ahmed

Question #125060
Discuss the internal and external factors involved in setting the price of a new product
1
Expert's answer
2020-07-10T09:50:53-0400

Internal factors influencing product price include the cost of manufacturing the product, the predetermined objectives of the firm regarding the product, the image of the company, the life cycle of the product and the weight of the promotional activity. Alternatively, external factors include competition in the market, consumer factors such as price sensitivity and purchasing power, government control and the economic conditions of the market.




Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS