________ pricing is a very simple approach. A company figures out how much it costs to make a product or deliver a service and then sets the price by adding a profit to the cost.Group of answer choicesprice basedrevenue basedexpensecost based
Question
________ pricing is a very simple approach. A company figures out how much it costs to make a product or deliver a service and then sets the price by adding a profit to the cost.Group of answer choicesprice basedrevenue basedexpensecost based
Solution
The pricing approach described is known as cost based pricing. In this method, a company determines the cost of producing a product or delivering a service, then adds a profit margin to establish the price.
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