The second step of value based pricing is to?
Correct answer: B. set target price
- A. determine incurred costs
- B. set target price
- C. assess needs of customer
- D. design product
Explanation
Value-based pricing typically begins by assessing customer needs and perceived value, then setting a target price based on that value before determining allowable costs and designing the product. Thus, setting the target price is the second step.
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