Examlex
Which of the following defines the set of customer needs that a company seeks to satisfy through its products and services?
Cost-based Pricing
Cost-based pricing is a pricing strategy where the selling price of a product is determined by adding a profit margin to the cost of making or buying the product.
Skimming Pricing
A pricing strategy involving setting high prices at the launch of a new product to maximize profits from customers willing to pay more, before lowering the price over time.
Prestige Pricing
A pricing strategy where prices are set higher than normal because the product or service is perceived to have a prestigious status or high quality.
Total Variable Costs
The summation of all costs that vary with the level of output or production, such as materials and labor.
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