The third step of cost based pricing is to?
Correct answer: C. set price based on cost
- A. design a product
- B. determine cost of product
- C. set price based on cost
- D. convince buyer about products value
Explanation
Cost-based pricing proceeds from product design to cost determination and then to setting the price by adding an appropriate margin to cost. Convincing the buyer about value is a promotional activity, not the third pricing step.
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