BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Deciding the amount to charge customers for products/services based on demand, completion, and the costs of raw materials.
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Distribution
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Marketing Information Systems/Market Research
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Product/Service Management
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Pricing
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Explanation:
Detailed explanation-1: -There are three main pricing strategies: cost-based pricing, competitive pricing, and pricing based on customer value. Let’s briefly review each. With cost-based pricing, a business figures out its total cost to build, distribute, market, and support the product.
Detailed explanation-2: -What Is Value-Based Pricing? Value-based pricing is a strategy of setting prices primarily based on a consumer’s perceived value of a product or service. Value-based pricing is customer-focused, meaning companies base their pricing on how much the customer believes a product is worth.
There is 1 question to complete.