ENTREPRENEURIAL MARKETING
MARKETING MIX
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
True
|
|
|
False
|
|
|
Either A or B
|
|
|
None of the above
|
Detailed explanation-1: -Cost-Plus Pricing Strategy This pricing strategy is commonly used by retail stores to set prices. Retail companies like clothing, grocery, and department stores often use cost-plus pricing. In these cases, there is variation in the items being sold, and different markup percentages can be applied to each product.
Detailed explanation-2: -Cost-plus pricing is a pricing strategy by which the selling price of a product is determined by adding a specific fixed percentage (a “markup") to the product’s unit cost. Essentially, the markup percentage is a method of generating a particular desired rate of return.
Detailed explanation-3: -Cost based pricing strategy In contrast to value-based pricing, the cost plus pricing strategy ignores competitor prices and consumer demand.