World-Class Organizations Operating in Competitive Markets Are More Likely to Take

Multiple Choice

World-class organizations operating in competitive markets are more likely to take which one of the following approaches toward pricing?

A) Begin with cost data as given and determine price by adding a reasonable mark-up.
B) Determine price based on the amount management believes customers are willing to pay.
C) Employ a cost-based approach to pricing.
D) Determine the price that keeps the facilities fully utilized.