Pricing Policy Objectives E 1. Old Denim, Ltd., is an international clothing company that retails mediumpriced goods. Its retail outlets are located throughout the United States, France, Germany, and...

Pricing Policy Objectives E 1. Old Denim, Ltd., is an international clothing company that retails mediumpriced goods. Its retail outlets are located throughout the United States, France, Germany, and Great Britain. Management wants to maintain the company’s image of providing the highest possible quality at the lowest possible prices. Selling prices are developed to draw customers away from competitors’ stores. Firstof-the-month sales are regularly held at all stores, and customers are accustomed to this practice. Company buyers are carefully trained to seek out quality goods at inexpensive prices. Sales are targeted to increase a minimum of 5 percent per year. All sales should yield a 15 percent return on assets. Sales personnel are expected to wear Old Denim clothing while working, and all personnel can purchase clothing at 10 percent above cost. All stores are required to be clean and well organized. Competitors’ prices are checked daily. Identify the pricing policy objectives of Old Denim, Ltd.