Pricing That Involves Setting Prices Based on Competitors' Strategies,costs,prices and Market

question 106

Multiple Choice

Pricing that involves setting prices based on competitors' strategies,costs,prices and market offerings is known as ________.

• A)competition-based pricing
• B)target return pricing
• C)fixed cost
• D)penetration pricing
• E)price skimming

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Definitions:

Traditional SDLC

The Standard Software Development Life Cycle, a systematic process used for the planning, creation, testing, and deployment of software applications.

Outsourcing

The practice of hiring third parties to perform services or create goods that traditionally were performed in-house by the company's own employees and staff.

Offshoring

The practice of relocating a company's business process, such as manufacturing or services, to another country, often to reduce costs.

Insource

The practice of assigning tasks or projects to individuals or departments within a company rather than to external entities.