Question

When George and Arthurine Renfro decided to start a family business in 1990 and market chowchow, a southern regional food, they had to determine how they would price the chowchow by examining the demand for the product (would people rather eat home-made or store-bought), the cost of getting the jars for bottling the chowchow, and how much it would cost to distribute the product to area stores. In other words, the Renfros had to begin the development of their pricing strategy by: Group of answer choices setting list price. determining profit relationships. estimating break-even points and revenue points. identifying pricing constraints. selecting an approximate price level.

Answer 1

the Correct answer is "Identifying pricing constraints."

Step-by-step explanation:

Pricing constraints are those imperatives that shield the dealer from fixing the value, these by and large incorporate market powers, for example, the interest of the item to be sold and the overall revenue of the item.

it additionally shield you from having adaptability in your pricing choices, for example, maximum costs set by clients and your own earn back the original investment point.