Customary pricing entails Blank______.

Question

Multiple choice question.

summing total units costs and adding a fixed percentage or fee to arrive at a price

reducing prices in a systematic way over time based on the learning effect

selling a product below the price of competitors to establish a perception of value

setting a price at a certain level based on factors like tradition or a standardized channel of distribution

Answer 1

Customary pricing entails setting a price at a certain level based on factors like tradition or a standardized channel of distribution.