Cost-based pricing considers factors such as the nature of the target market, demand, competition, and the product life cycle.

Name: Cost-based pricing considers factors such as the nature of the target market, demand, competition, and the product life cycle.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Cost-based pricing primarily focuses on covering the costs of production and adding a markup for profit, rather than considering market demand, competition, or the product life cycle.

Cost-Based Pricing Considers Factors Such as the Nature of the Target