Business, 22.08.2020 22:01 LEXIEXO

The medium price of a product is determined by a. competitors' price ± fudge factor. b. the customer's willingness to pay. c. the product's popularity. d. cost + markup.

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Answer from: jasminemonae62

The competitors' price plus fudge factor determines the medium price of a product.

The medium price refers to the average price which is fixed and acceptable for exchange of goods/services produced by a firm.

The Fudge factor refers to level of amount by which a budget has been adjusted to make it seem acceptable. So, its plays a big role in determination of the average price for a product.The price of similar goods/services offered by the competitors also determines the medium price because the firm will not want to be at disadvantage in the market because of higher price level

Therefore, the Option A is correct because the competitors' price plus fudge factor determines the medium price of a product.

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Answer from: surfskate

The correct option is;

a. Competitors's price + Fudge Factor

Explanation:

Product pricing consideration involve considering prices that are either high, medium range or low priced which make up the high end, middle, and low price pricing strategies

The high end pricing strategy involves finding out the amount the consumer is willing and has capacity to pay for and fixing the price at that range

The low price, pricing strategy is cost based with addition of an extra amount above the calculated cost

The medium pricing strategy is based on the competitive pricing, whereby the basis of pricing is the price of the competing product and the price of the product is the competitors price plus or minus a Fudge factor.

Answer from: Quest

answer; work samples;

Answer from: Quest

the definition of a small business is an independently owned and operated company that is limited in size and in revenue depending on the industry. a local bakery that employs 10 people is an example of a small business. a manufacturing facility that employees less than 500 people is an example of a small business.

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