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Marketing Price Change

You are contemplating a price change for an established product sold by your firm. Write a memo analyzing the factors you need to consider in your decision.

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When contemplating a price change for an established product, the business should ensure that it sums up all the costs associated with the new price change as well as the profit margin for changing the price for the established product. Market demand is another factor that needs to be considered because if the product is a high demand item, it could be feasible to charge a ...

Solution Summary

The solution writes a memo that considers a price change for your product.