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Cost-based pricing is a pricing strategy that sets prices based on the costs of producing, distributing, and selling a product, plus a fair rate of return for providing a product or service.
The Benefits of Cost-Based Pricing Negotiations
This pricing strategy is often used when negotiating contracts between suppliers and purchasers, allowing for an agreement on prices based on the actual costs of the supplier.
The cost-based pricing model can be beneficial for both suppliers and purchasers.
- For the supplier, it ensures that they are able to make a fair rate of return, while still providing the purchasers with a competitive price.
- Additionally, this pricing model allows the supplier to factor in production costs, such as labor, materials, and overhead.
- This ensures that the supplier is able to cover their costs and make a profit, while still offering the purchasers a fair price.
Learn more about negotiation strategy at: https://brainly.com/question/14889079
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