The Company Designs What It Considers to Be a Good

question 25

Short Answer

The company designs what it considers to be a good product, totals the expenses of making the product, and sets a price that adds a standard mark-up to the cost of the product.This approach to pricing is called ________ pricing.
value-based
fixed cost
cost-plus
variable
skimming

---

Definitions:

Adults Work

Employment activities or tasks performed by individuals who have reached the legal working age, contributing to their livelihood and economy.

Price Strategy

The method adopted by a company to set its product or service's price, taking into account costs, competition, target audience, and market conditions.

Price Position

The strategy or tactic a company uses to establish their product or service's price relative to the competition.

Break-Even Analysis

A financial calculation that determines the point at which revenue equals costs, indicating no net loss or gain.