List Four of the Eight Demand-Oriented Approaches to Selecting an Approximate

question 71

Essay

List four of the eight demand-oriented approaches to selecting an approximate price level and define what they are.

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Definitions:

Target Return-on-investment Pricing

is a pricing method where prices are set to achieve a specified return on investment (ROI) for product sales or projects.

Annual Target ROI

The desired return on investment set by a business for a specific fiscal year, guiding financial and operational decisions.

Specific Product Class

A distinct category or group of products that share common attributes or functionalities.

Customary Pricing

Pricing strategy based on traditional costs and prices within an industry or market, often influenced by standard practices and competition.