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Waving Through the Window You and your two roommates are starting a window washing service to help...

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Accounting

Waving Through the Window

You and your tworoommates are starting a window washing service to help putyourself through college. There are two other well-establishedwindow washing services in your area.

  • Should you set your price higher or lower than that of thecompetition? Justify your answer.

One roommate believesthe most important objective in setting prices for the business isto generate a large profit, while keeping an eye on yourcompetitors’ prices; the other roommate believes it is important tomaximize sales and set prices according to what your customersexpect to pay.

  • Who is right and why?
  • How do the number of competitors in the market in thissituation affect YOUR pricing strategy?

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