Given that there is a serious disadvantage to cost-based pricing, how would you account for its widespread use in retailing and other businesses?

Marketing
20th Edition
ISBN:9780357033791
Author:Pride, William M
Publisher:Pride, William M
Chapter20: Setting Prices
Section: Chapter Questions
Problem 1DYMP
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Given that there is a serious disadvantage to cost-based pricing, how would you account for its widespread use in retailing and other businesses?

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