Which of the following statements regarding pricing constraints is most accurate? Pricing constraints must always be set, but they are rarely enforced. At the corporate level, when setting pricing constraints, a firm must disregard current conditions in the marketplace because they are too temporal for long-term planning. Even if a firm is trying to satisfy its obligations to its customers and society in general, it should ignore setting pricing constraints. Generally, the greater the demand for a product, the higher the price that can be set. It is possible to create pricing constraints with the greatest range possible in order to anticipate any and all changes in the marketing environment.

In Economics, pricing constraints refer to the deterrent factors and components that prevent the firms or companies from setting their own prices based on their flexibility.
From a marketing standpoint, as the consumers have relatively higher demand for any product or service, higher will be its market price consequently as it is valued more by the customers or buyers.
Now, considering a relatively lower price elasticity of demand and a considerably high demand for the product or service, the seller can increase the price of the concerned product to expand its revenue level.
Hence, excessive consumer demand is an opportunity to increase the market price which can reduce the pricing constraints to a considerable extent. Therefore, consumer demand and price elasticity of demand are some of the major determinants of pricing constraint in most of the markets and can be exploited by the firms or companies to extract maximum revenue and profit.

Martebi Martebi · Answer 2 · 2021-12-10T10:00:02+01:00

The prices of goods are always set. The statements regarding pricing constraints is most accurate is that Generally, the greater the demand for a product, the higher the price that can be set.

Pricing constraints are simply known as elements that hinders the latitude of prices that a firm can set. There are a lot constraints on pricing.

The factors that are main pricing constraints are; Demand for the product class, product, and brand.

Conclusively, with Pricing constraints, The demand for a goods often affect price by increasing it.

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