Final answer:
The option that is not a pricing constraint among those listed is 'newness of the product or stage in its product life cycle'. Pricing constraints limit the company's pricing abilities, and while the other factors mentioned are constraints, the stage of a product's life cycle is not a constraint but rather influences demand and optimal pricing.
The correct option is 4. newness of the product or stage in its product life cycle
Step-by-step explanation:
The option that is not a pricing constraint among those listed is 'newness of the product or stage in its product life cycle'. Pricing constraints are factors that limit the ability of a company to set or adjust prices. Legal considerations, cost of producing and marketing the product, promotional discounts, and competitors' prices are all constraints that affect pricing decisions.
Legal considerations might include anti-trust laws and pricing regulations. The costs of production and marketing set a lower bound on pricing, ensuring that a product can be profitable. Promotional discounts are used strategically, and competitors' prices have to be considered to remain competitive in the market.
However, the newness of the product or stage in its product life cycle affects demand and can influence the optimal price point, but it is not a constraint in the same way as the others. Pricing may be higher when a product is new and gradually decreases as it moves through its life cycle, but these decisions are not constrained by the newness itself.
The correct option is 4. newness of the product or stage in its product life cycle