Describe the three pricing methods discussed in the textbook
(cost-based, demand-based, competition-based).
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General Management
Describe the three pricing methods discussed in the textbook(cost-based, demand-based, competition-based).
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Answer Cost based Pricing Methods Cost based Pricing is a method of Pricing by which some percentage of desired profit margins are added to the product cost to find the Selling Price of the product Margin percentage is added to the cost to earn profit For example the cost of a product is 75 and then Company adds 25 as a profit to the cost then Selling Price is 100 It can be expressed in percentage also like here profit margin is 3333
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