You are the new owner of Vanda-Laye Corporation. You are interested in your company’s cost and revenue relationships as well as its future pricing strategies.
Analyze how the Utility Theory can help you determine pricing as you make changes to the companies pricing strategies.
Evaluate what information is needed to assess the company’s cost and revenue relationship. What does this information tell you about the company?
Explain the impact supply and demand has on the company’s pricing strategy.