Asked by
Nathan Ulrich
on Nov 12, 2024
Verified
What pricing concept considers the price that other providers charge for the same product?
A) demand-based concept
B) total cost concept
C) cost-plus concept
D) competition-based concept
Competition-Based Concept
A pricing strategy that sets prices based on what competitors charge for similar products or services.
- Differentiate between various pricing concepts like cost-plus, target cost, and competition-based pricing.
Verified Answer
KM
Learning Objectives
- Differentiate between various pricing concepts like cost-plus, target cost, and competition-based pricing.
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