setting of prices for all items in a product line to cover the total cost and produce a profit for the complete line,not necessarily for each item,is referred to as
A) line item pricing.
B) product-line pricing.
C) price lining.
D) customary pricing.
E) discretionary pricing.

Question

Quizplus · Accepted Answer

Product-line pricing involves setting prices for all items in a product line to cover the total cost and produce a profit for the complete line, not necessarily for each item. Line item pricing involves pricing each individual item separately. Price lining involves creating a limited number of price points for a product line. Customary pricing involves setting prices based on long-standing traditions or norms. Discretionary pricing involves setting prices based on subjective judgments about a product's value.

Setting of Prices for All Items in a Product Line