Title: Explain key factors in determining selling price.
Course: Marketing (12164) > Section: Pricing Products and Services

Explanation should include

- internal factors (e.g., cost of goods, operating expenses, product mix)
- external factors (e.g., supply, demand, government regulations, competition, natural and economic events).

Process/Skill Questions:

- Based on the current economy, how might economists predict trends in pricing?
- How do the global economy and political climate affect price? How can this be seen in today’s market?
- What effect do expenses have in determining the selling price?
- How does price affect place decisions?
- How does the stage in the life cycle affect pricing the product?