University Of Texas Rio Grande Valley What are the internal and external factors that you must consider while setting up a price

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Business Finance

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  1. What are the internal and external factors that you must consider while setting up a price? Discuss.
  2. When you evaluate the three major pricing strategies (namely value-based pricing, cost-based pricing, and competition-based pricing) you will see that each has strengths and weaknesses. However, according to your assessment, ideally, which one do you think is the strongest? Discuss and explain why.

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1

Running head: Product Pricing Decision

Product Pricing Decision
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Running head: Product Pricing Decision

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The Internal and External Factors in Pricing Decision
When pricing a product, the price tag's decision to settle for is influenced by external
and internal factors. The internal factors include the cost of production, its objectives, and the
product life cycle. The external factors include competition, market forces, government
controls, and channels of distribution...


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