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Question
Choose the incorrect statement about pricing objectives as a factor affecting the price of a product.
Options
If a firm's objective is to maximize profits in the short run, it should charge maximum price for its products.
If a firm's objective is to capture market share, it should keep low price of its product.
If a firm wants to attain product quality leadership, it should charge lower prices.
If a firm is facing problems in survival due to stiff competition, it may offer discount on its products.
Solution
If a firm wants to attain product quality leadership, it should charge lower prices.
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