Question: Based on the lecture discussion about value based pricing and its comparison with cost based pricing, which of the following statement / s would be

Based on the lecture discussion about value based pricing and its comparison with cost based pricing, which of the following statement/s would be true?
I. cost-based pricing is likely to be used by production/product oriented marketers
II. the first step in value based pricing is to assess customer needs and value perceptions
III. marketers who follow the marketing concept will adopt value based pricing approach

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