key to setting a final price for a product is finding an approximate price level to use as a reasonable starting point.Four common approaches to selecting an approximate price level are: (1)demand-oriented; (2)__________; (3)profit-oriented; and (4)competition-oriented approaches.

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Quizplus · Accepted Answer

The most appropriate choice to fill in the blank is "cost-oriented," as it refers to setting a price based on the cost of producing and distributing the product. The other options (cause-oriented, revenue-oriented, and stakeholder-oriented) do not relate to selecting an approximate price level. Distribution-oriented may be a consideration in setting the final price, but it is not one of the four common approaches for selecting the approximate price level.

Key to Setting a Final Price for a Product Is