Question: Define cost - based pricing. Setting prices based on the costs for producing, distributing, and selling the product plus a fair rate of return for

Define cost-based pricing.
Setting prices based on the costs for producing, distributing, and selling the product plus a fair rate of return for its effort and risk.
Adding a standard markup to the cost of the product.
Offering just the right combination of quality and good service at a fair price.
Attaching value-added features and services to differentiate a market offering and support higher prices, rather than cutting prices to match competitors.
Define cost-based pricing. Setting prices based on the costs for producing,

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