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Question
Fourth step of value-based pricing is to _______.
Fourth step of value-based pricing is to _______.
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Solution
The correct option is B Design product
Value based pricing is the strategy which sets prices primarily, but not exclusively, according to the perceived or estimated value of a product or service to the customer rather than according to the cost of the product or its historical prices. So once the customer needs are found out, a target price is set and costs are calculated, finally the product will be designed.
Value based pricing is the strategy which sets prices primarily, but not exclusively, according to the perceived or estimated value of a product or service to the customer rather than according to the cost of the product or its historical prices. So once the customer needs are found out, a target price is set and costs are calculated, finally the product will be designed.
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