This approach to pricing, in which the price charged to the customer or client is set to cover what it costs the organization to produce or provide it, is called:
A) cost-oriented pricing.
B) value-based pricing.
C) competition-oriented pricing.
D) price discrimination.

Question

Quizplus · Accepted Answer

The approach described is cost-oriented pricing, as it focuses on covering the organization's costs rather than considering the value to the customer or competition in the market.

This Approach to Pricing, in Which the Price Charged to the Customer