Which of the Following Requires Managers to Keep in Touch

question 11

Multiple Choice

Which of the following requires managers to keep in touch with the needs and preferences of customers?

• A) Skim pricing
• B) Value-based pricing
• C) Cost-based pricing
• D) Match pricing

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Definitions:

Loss Occurs

Refers to the moment when a financial loss happens due to an insured event.

Insurable Interest

A requirement that a person seeking to purchase insurance has a sufficient stake in the safety or preservation of the insured item or individual to obtain insurance coverage.

Named Beneficiary

An individual, group, or entity explicitly designated to receive benefits from a policy or account.

Partnership

A lawful business structure operated by two or more people who divide management duties and share the profits.