Developing a product that satisfies the need of the potential customers is the first step in implementing target pricing and target costing.

Name: Developing a product that satisfies the need of the potential customers is the first step in implementing target pricing and target costing.
Brand: Quizplus
Rating: 4.7 (35 reviews)

Question

Quizplus · Accepted Answer

It is important to first identify the needs and wants of potential customers and develop a product that satisfies those needs before setting a target price and target cost for the product.

Developing a Product That Satisfies the Need of the Potential