solution

Which of the following statements about monitoring and evaluating the effectiveness of a pricing strategy is true?
a. Pricing strategy should be reevaluated as the product moves through its life cycle.
b. Choosing a price is a one-time decision, regardless of where it is in its life cycle.
c. One of the least challenging aspects of pricing is initiating price increases.
d. In an effort to recover increasing costs or improve profits, firms often need to decrease prices.
e. Pricing strategy remains relatively stable throughout a product’s life cycle.
2. Pricing is one of the most important strategic decisions a firm faces. Thus, when setting its prices, a firm should consider all of the followingexcept
a. make sure its pricing objectives are distinct from its marketing objectives.
b. make sure its pricing strategy reflects the quality of the product or service it is selling.
c. carefully consider the quality perception that it wants to develop in the marketplace.
d. ensure its pricing objectives are specific and measurable.
e. describe what a firm hopes to achieve through its pricing strategy