_____ is a method of setting prices that combines market-based pricing with a cost-reduction emphasis.
A) Product costing
B) Target costing
C) Markup costing
D) Activity-based costing

Question

Quizplus · Accepted Answer

Target costing is a pricing strategy that sets a product's price based on the market demand and competition while also focusing on reducing the costs associated with producing the product. This method ensures that the product is priced competitively while still ensuring profitability for the company.

_____ Is a Method of Setting Prices That Combines Market-Based