Cost Based Pricing Definition and Explanation PDF Download
Learn Cost Based Pricing definition in marketing with explanation to study “What is Cost-Based Pricing”. Study cost based pricing explanation with marketing terms to review marketing course for online MBA programs.
Cost Based Pricing Definition:
Setting prices based on the costs for producing, distributing, and selling the product plus a fair rate of return for effort and risk.
Principles of Marketing by Philip T. Kotler, Gary Armstrong
Cost Based Pricing Explanation:
Cost based pricing is a strategy which determine product selling price, set by the company. The price is usually fixed by adding profit element with the price. According to the market researchers, survey has been conducted by the companies in order to determine product price, keeping in view the current market price, the final product cost has determined.
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