Third step of cost-based pricing is to _______.

Design a product

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Determine cost of product

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Set price based on cost

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Convince buyer about products value

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Solution

The correct option is C Set price based on cost
Cost based pricing is the easiest way to calculate what a product should be priced at. This appears in two forms: full cost pricing and direct-cost pricing. So after designing the product, determining the cost of the product, one must set the price of the product as its determined cost.

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