Approach used for determining target cost is Question 21 options: based on market research, competitive actions, and end-user value set up target cost, estimate long-term profit objective, and then set up target price as the target cost plus long-term profit objective. set up target cost, long-term profit objective, and the target price based on internal cost calculations. No market research required. based on market research, competitive actions, and end-user value set up target price, estimate long-term profit objective, and then set up target cost as the target price minus long-term profit objective based on market research, competitive actions, and end-user value set up target cost and the target price. Calculate long-term profit objective as target price minus target cost. based on market research, competitive actions, and end-user value set up target cost. No estimations of long-term profit objective is required