The ________ approach reduces the need to go back and forth between prospective cost-plus prices,customer reactions and design modifications.

Question

Quizplus · Accepted Answer

The target-pricing approach involves determining the price at which a product or service should be offered based on the desired level of profitability and market demand. This approach takes into account both the customer's perceived value and the company's desired profit margin, which can reduce the need for constant back-and-forth adjustments between cost-plus prices, customer reactions, and design modifications.

The ________ Approach Reduces the Need to Go Back and Forth