Two different approaches to pricing decisions are market based and cost-plus.

Name: Two different approaches to pricing decisions are market based and cost-plus.
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Question

Quizplus · Accepted Answer

This statement is true. Market-based pricing involves setting prices based on the external market and what consumers are willing to pay, while cost-plus pricing involves setting prices based on the cost of producing the product plus a percentage markup for profit.

Two Different Approaches to Pricing Decisions Are Market Based and Cost-Plus