Title: Explain the factors that affect pricing.
Course: Small Business Marketing (12161) > Section: Pricing Products and Services

Explanation should include

- cost of goods
- demand
- competition
- target market
- economic conditions.

Process/Skill Questions:

- How does customer demand influence the price a business sets for its products or services?
- How can competitor pricing affect pricing strategy?
- What are the market factors that affect price? How might each factor affect price?
- How do the global economy and political climate affect price? How can this be seen in today's market?
- What are some challenges marketers face when pricing products strategically?