ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following best describes price?
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Determined by the franchisee rather than the franchiser
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The cost of producing the product for the business
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Setting the price that retailers must pay, which in turn affects the customerprice
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Always based on cost plus a particular rate of mark up
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Explanation:
Detailed explanation-1: -Cost-based pricing is the practice of setting prices based on the cost of the goods or services being sold. A profit percentage or fixed profit figure is added to the cost of an item, which results in the price at which it will be sold.
Detailed explanation-2: -Value-Based Pricing Strategy A value-based pricing strategy is when companies price their products or services based on what the customer is willing to pay.
There is 1 question to complete.