Companies like Walmart that assert a "more for less" strategy are using value-based pricing.
What is value-based pricing?
- Value-based pricing is a method of setting prices that is mostly based on how much a consumer thinks a product or service is worth.
- Value pricing is which means that businesses set their prices in accordance with what consumers think a product is worth.
- Value-based pricing differs from "cost-plus" pricing, which computes prices after taking manufacturing costs into account.
- Companies that provide distinctive or highly desirable products or services are better positioned to benefit from the value pricing model than those that sell primarily commoditized goods.
- The value-based pricing theory primarily applies in marketplaces where owning a product improves a customer's self-image or enables unmatched life experiences.
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Producers want to charge prices that at least will return all their costs: the cost of production, compensation for the time they and their employees spend on the production, and the cost of material, but in an ideal case they want to charge more so that they can earn profits.
<span>Monopolies affected small businesses by forcing them to shut down. A small business cannot compete with large companies, especially their ability to buy goods in bulk. When a company buys goods in bulk, it is able to negotiate a better price. Small businesses cannot do this because they don't have access to as much capital as large businesses do. The Gilded age lasted from 1870 to 1900. It was a volatile time in the history of America. The Industrial Revolution had spread offering opportunities for many people to make a lot of money but, at the same time left many farmers and workers struggling for survival.</span>
A natural disaster that destroyed all farms in the region
Answer:
C. tertiary
Explanation:
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