Product Pricing - Legal Issues

The video tutorial discusses the importance of making informed pricing decisions for products, emphasizing the need to consider legal issues such as dumping, price fixing, and price discrimination. It highlights the significance of understanding these legal aspects to avoid potential problems and ensure compliance, depending on the product and market location.

What is a crucial factor to consider when deciding the price of a product?

• The color of the product

• The weather conditions

• Legal issues related to pricing

• The number of employees in the company

What is 'dumping' in the context of pricing?

• Charging different prices to different customers

• Agreeing to sell a product at a fixed price

• Selling a product for less in another country than in the home country

• Selling a product at a higher price in another country

Why is price fixing considered illegal?

• It allows for competitive pricing

• It means agreeing to sell products at a certain price in exchange for others doing the same

• It involves selling products at a loss

• It involves charging different prices to different customers

What does price discrimination involve?

• Charging the same price to all customers

• Agreeing to a fixed price with competitors

• Charging different prices to different retailers or wholesalers for the same product

• Selling products at a loss

What should be considered to avoid legal problems when setting a product's price?

• The number of employees

• The product and market conditions

• The company's logo

• The product's color