Setting a Price That Is Dictated by Tradition, a Standardized

question 102

Multiple Choice

Setting a price that is dictated by tradition, a standardized channel of distribution, or other competitive factors is referred to as

• A) cost-plus pricing.
• B) customary pricing.
• C) standard markup pricing.
• D) loss-leader pricing.
• E) target profit pricing.

---

Definitions:

Organisational Mission

A statement that outlines an organization's core purpose, focus, and aspirations, guiding its strategies and operations.

Experienced Management

Leadership or managerial teams with significant knowledge and expertise gained through years of practice in a particular field or industry.

Organisational Weaknesses

Organisational weaknesses are areas where an organization lacks strength or capability, impacting its ability to achieve objectives effectively.

Strategic Alliances

In strategic alliances, organisations join together in partnership to pursue an area of mutual interest.