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The Pricing Decision: Balancing The Cost-Based And Market-Based Approaches In Different Industries, Shawn M. Kain, Kenneth Yale Rosenzweig
The Pricing Decision: Balancing The Cost-Based And Market-Based Approaches In Different Industries, Shawn M. Kain, Kenneth Yale Rosenzweig
Accounting Faculty Publications
The objectives of this paper are to discuss cost estimating and pricing issues in four different industries, to analyze methods and strategies that are used in the costing and pricing of products in those industries, and to make general comparisons about costing and pricing techniques.
Accurate projection of costs is essential to the survival of any firm because cost estimates often determine whether a project will be authorized to begin or continue, the amount of resources that will be allocated to a particular product or product line, the prices of products, and the firm's and product line's profitability. Many management …