The Pricing Approach That Estimates the Price That Ultimate Consumers

question 101

Multiple Choice

The pricing approach that estimates the price that ultimate consumers would be willing to pay for a product; works backward through markups taken by retailers and wholesalers to determine what price to charge wholesalers is referred to as

• A) cost-benefit pricing.
• B) cost-plus percentage-of-cost pricing.
• C) target pricing.
• D) cost-plus fixed-fee pricing.
• E) product feature pricing.

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Definitions:

Full Retirement Benefit

Full Retirement Benefit refers to the total amount of pension or social security payments a person is eligible to receive upon reaching the designated retirement age.

Inflation

The rate at which the general level of prices for goods and services is rising, thereby eroding purchasing power.

Monthly Social Security Benefits

The payments made to eligible recipients each month by the Social Security Administration, often based on retirement or disability status.

Retirement Account

A financial account designed for saving funds specifically for the period of life when an individual stops working.