Please respond to the following:
- Select the areas of the price-setting process (define price window, set initial price, and communicate prices to market) that you believe to be the most important. Support your argument with evidence and/or examples.
classmate response: please respond to classmate post
In my opinion the price window is the most is the most important step of the price setting process. The overall goal is to set profit maximizing prices by capturing the appropriate amount of the differential value in each stage to affect the final price at each stage. The price window is set for every portion and characterized by the roof, the most noteworthy admissible value point, and the floor, the least allowable price point. We start the value setting process by building up the value window for every section and after that, in step two, a contract that window gave important destinations for the portion and potential client reactions to the new costs. So, setting the price range based on the differential value and the relevant cost is vital to the overall goal of maximizing your profit.