Choosing a pricing objective and a related strategy requires one to carefully consider the company's business and financial goals, the state of the market, and the products and prices of the competition. Choosing an objective and strategies that are appropriate for the company at the current time does not prevent a business manager from changing objectives or employing different strategies in the future as business grows or changes. The key question that managers should ask themselves when setting the right price for its products is this: Is the good or service priced to attract the mass of target buyers so that they have a compelling ability to pay for the product?
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