suggest atternatives to market prices in management control process
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Answer:
There are many alternative to the market pricing.
1.Control is a management process that is aimed at achieving a defined goal and consists of three components as setting standards, measuring the performance, and taking corrective actions.
2.Pricing strategies are used in marketing goods and services. For which the firm first needs to evaluate and determine the strategy.
3.The alternative such as absorbing pricing in which the cost is removed. The cost-plus pricing is based on the direct material, direct labor, and overhead costs.
4.Skimming when the goods and services are sold at higher prices. It is used to target the early adopters.
5.Differential pricing where the form sets various processes for sth same product. Depending on the customer's portfolio and geographic area.
6.Keystone pricing the retail prices are set at double wholesale rates. Other like penetration pricing, predatory pricing, and decoy pricing is also used.
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