Cost-oriented Pricing

Chaneta, Isaac (Dr.) (2011) Cost-oriented Pricing.

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Pre-print,Although in practice, there are many ways of arriving at a price, these can be reduced for simplicity to two basic methods namely, cost-oriented and demand-oriented price determination. Cost-oriented pricing is typical in the real world. Accounting systems can estimate or accumulate the costs of doing particular tasks and profit – and – loss statements show very clearly that all costs should be covered. Costs provide a floor which prices cannot go (for long anywhere) and it is only logical that prices should be built on seemingly precise cost data. Cost-oriented pricing is not as simple or full-proof as it might seem at first glance. The analytical tools presented can improve cost-oriented pricing but management judgment is still required. Price determination is a serious matter that deserves careful study. The discussion shall begin by examining how most firms, including retailers and wholesalers set oriented prices.

Item Type: Article
Uncontrolled Keywords: pricing,cost-oriented pricing,demand-oriented pricing,mark-up,average-cost method
Divisions: Universities > State Universities > University of Zimbabwe
Depositing User: Mr. Edmore Sibanda
Date Deposited: 30 Nov 2015 01:00
Last Modified: 30 Nov 2015 01:00

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