Q340
Pricing method used by services companies, such as home repair services, architectural firms and automobile repair services is known as
A.
product life cycle method
B.
life cycle budgeting method
C.
life cycle costing method
D.
time and material method
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
Pricing method used by services companies, such as home repair services, architectural firms and automobile repair services is known as time and material method. The Pricing Methods are the ways in which the price of goods and services can be calculated by considering all the factors such as the product/service, competition, target audience, product's life cycle, firm's vision of expansion, etc. influencing the pricing strategy as a whole.