Question

discuss the preliminary steps involved in establishing a system of standard costing.

Answer 1

Experienced organizations have learned that it is not their opinion that matters most regarding whether their product is needed or not. The opinion that matters most is that of the customers. These organizations have learned that they might not know what they don't know about their customers. That precious knowledge about the customers comes from "inbound" marketing -- through market research to clarify customers' needs and what they are willing to do to get those needs met. If the inbound marketing is done well, the outbound marketing is particularly easy -- and effective.

Answer 2

Hope it helps u.. .,