Price setting can be based on which of the following?
A)Market-orientated
B)Cost-orientated
C)Competitor-orientated
D)All of the above

Question

Quizplus · Accepted Answer

Price setting can be based on market-orientated, cost-orientated, or competitor-orientated factors, or a combination of all of these. A market-orientated approach considers the demand and supply of the product or service, as well as the pricing strategies of competitors. A cost-orientated approach considers the cost to produce, market, and distribute the product or service, as well as the desired profit margin. A competitor-orientated approach considers the pricing strategies of competitors and aims to remain competitive within the market. A comprehensive pricing strategy should take into account all of these factors to determine the optimal price for a product or service.

Price Setting Can Be Based on Which of the Following