A Pricing Strategy for an Offering Begins with an Assessment

question 88

Multiple Choice

A pricing strategy for an offering begins with an assessment of customer needs and perceptions. Then a target price is set based on customer perceptions of worth.

• A) value-based
• B) competition-based
• C) target costing
• D) cost-based
• E) value-added

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Definitions:

MAX

In computing and mathematics, MAX refers to a function or operation that determines the maximum value from a set of numbers or data.

Sort Key

A field or set of fields used to determine the order in which data is sorted in a database or data structure.

Major Sort Key

The primary criterion used to organize data or records in order of importance or relevance.

Minor Sort Key

A secondary criterion used in sorting data, which is applied after the primary sort key to further organize the data when primary keys are identical.