Discussion - Pricing Decisions. "Cite all references and sources used".
Instructions: According to economic theory: How would a manager determine the profit maximizing price for a product or service?
Why is setting an appropriate price one of the most difficult decisions a manager makes?
Why is a pricing policy important and what are some of the objectives of a pricing policy?
How does a pricing policy help companies differentiate their brands from their competitors?
Are there ethics involved in pricing and what are they? Use proper grammar.