Final answer:
Product prices are generally derived from cost of production and desired profit, not from the marketing budget detail spreadsheet. The marketing budget is related to the costs of marketing and promotion, whereas pricing strategies involve careful assessment of various financial factors.
Step-by-step explanation:
The statement that product prices are set on the marketing budget detail spreadsheet is False. In general, product prices are determined by considering the cost of production and the desired profit a firm wishes to earn. This pricing strategy ensures that the product price covers the costs incurred and provides a profit margin for the company. While marketing budgets are important for planning promotional strategies and allocating resources for selling the product, they typically do not set the product prices. Instead, a detail spreadsheet regarding marketing budgets may include the costs associated with marketing efforts, such as advertising and promotion, but the pricing decision is often made based on separate analyses of the costs and market conditions.