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.

Tasks:

• 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.