Which of the Following Is Explains the Cost-Plus Approach to Pricing

question 205

Multiple Choice

Which of the following is explains the cost-plus approach to pricing decisions?

• A) arriving at a price for the product based on the competitive pricing prevalent in the market
• B) arriving at a price based on the perceived value to a customer given the cost of design and added features
• C) arriving at a price based on the demand and supply trends in the market
• D) arriving at a price that earns a specific return given the cost of the product

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Definitions:

Sociological

Relating to sociology, which is the study of the development, structure, and functioning of human society.

Psychosocial

Pertaining to the influence of social factors and individual psychological aspects on human development and behavior.

Competence

The ability or skill to do something successfully or efficiently.

Achievement

The accomplishment of a goal or the attainment of higher statuses or levels, often recognized by others through rewards or honors.