Question

Place the following steps of the pricing framework process in the appropriate order.
determine pricing stratagies and pricing policies for making price adjustments
determine cost
self pricing objectives
estimate demand
set initial price
offer and make price adjustments as needed
analyze factors affecting pricing decisions

Answer 1

Here is the appropriate order of the steps in the pricing framework process:

1. **Self pricing objectives**
2. **Determine cost**
3. **Estimate demand**
4. **Analyze factors affecting pricing decisions**
5. **Determine pricing strategies and pricing policies for making price adjustments**
6. **Set initial price**
7. **Offer and make price adjustments as needed**

This sequence helps ensure a structured approach to establishing and managing prices effectively.