Question

An organization is ready to launch a new product. When working through its pricing strategy, the organization should set the price of the product

(1 point)
• at less than the price of the competition.
• higher than the price of the competition.
• at the price consumers are willing to pay.
• at the price that will allow retailers to offer a discount.

Answer 1

The right answer for the question that is being asked and shown above is that: "at the price consumers are willing to pay." An organization is ready to launch a new product. When working through its pricing strategy, the organization should set the price of the product at the price consumers are willing to pay.