Question #2

a) What is target pricing? Under what specific circumstances can it be most useful? What are some potential problems with using this approach to pricing? Be specific in your responses.

b) What is cost-plus pricing? Under what specific circumstances can it be most useful? What are some potential problems with using this approach to pricing? Be specific in your responses.

c) What is life cycle pricing? Under what specific circumstances can it be most useful? What are some potential problems with using this approach to pricing? Be specific in your responses