In which type of pricing do marketers determine price based on what consumers are willing to pay and then subtract desired margins to yield target costs?

Question

Quizplus · Accepted Answer

In demand-based pricing, marketers set the price based on the customer's perceived value or what they are willing to pay for the product. This strategy is effective in creating a competitive advantage as the pricing is based on customer's needs and preferences, which increases their willingness to purchase the product. This strategy ensures that the price is competitive and based on customer demand.

In Which Type of Pricing Do Marketers Determine Price Based