What term refers to various factors that influence pricing decisions in a business?

The term that refers to various factors influencing pricing decisions in a business is best captured by "pricing policy." A pricing policy outlines the strategic approach a business takes to set prices for its products or services based on multiple factors such as market conditions, competition, customer perceptions, costs, and overall business objectives. This policy guides how a company evaluates and responds to external and internal influences when determining the right price point to maintain competitiveness and profitability.

In contrast, "market demand" specifically focuses on consumer desire and the quantity of a product that people are willing to purchase, which is just one of the elements that a pricing policy would consider. "Cost analysis" is concerned primarily with assessing all costs associated with producing and selling a product to ensure profitability, but it does not encompass the broader range of influences on price. "Competitive pricing" focuses on setting prices based primarily on competitors' pricing strategies, which is a narrower aspect of the comprehensive pricing decisions encapsulated in a pricing policy. Thus, the holistic nature of pricing policy makes it the fitting term for this context.