Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
Which approach to pricing focuses on setting prices based on the perceived value of the product or service?
Which approach to pricing focuses on setting prices based on the perceived value of the product or service?
- The value-based approach (correct)
- The demand-based approach
- The competitor-based approach
- The cost-based approach
Which approach to pricing considers the costs involved in producing and delivering the product or service?
Which approach to pricing considers the costs involved in producing and delivering the product or service?
- The value-based approach
- The competitor-based approach
- The cost-based approach (correct)
- The demand-based approach
Which approach to pricing takes into account the prices set by competitors in the market?
Which approach to pricing takes into account the prices set by competitors in the market?
- The demand-based approach
- The cost-based approach
- The value-based approach
- The competitor-based approach (correct)
Flashcards are hidden until you start studying
Study Notes
Pricing Approaches
- Value-Based Pricing: focuses on setting prices based on the perceived value of the product or service
- Cost-Based Pricing: considers the costs involved in producing and delivering the product or service
- Competitive Pricing: takes into account the prices set by competitors in the market
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
