The Key to Setting a Final Price for a Product

question 142

Multiple Choice

The key to setting a final price for a product is finding an approximate price level to use as a reasonable starting point.Which of the following is one of four common approaches to selecting an approximate price level?

• A) cost-oriented
• B) cause-oriented
• C) revenue-oriented
• D) stakeholder-oriented
• E) distribution-oriented

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Definitions:

Satisfying

Satisfying is the process of making sufficient or adequate decisions based on a specific set of criteria, often used in problem-solving and decision-making contexts.

Human Friendly

Describes environments, machines, or systems designed with consideration for human use, emphasizing safety, comfort, and ease of use.

Human Factors Psychologists

Specialists in psychology who focus on improving and understanding how people interact with products, systems, and environments to optimize human well-being and overall system performance.

Designers

Professionals who plan and create designs in various fields such as fashion, graphic, interior, and industrial, aiming to blend aesthetics and functionality.