Difference between revisions of "Target costing"
MariamKhalid (talk | contribs) (Created page with "Target costing is deducting the desired profit margin from the price at which a product will sell, given its appeal and competitors' prices. ==Definition== According to ...") |
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According to [[Marketing Management by Keller and Kotler (15th edition)]], | According to [[Marketing Management by Keller and Kotler (15th edition)]], | ||
:[[Target costing]]. Deducting the desired profit margin from the price at which a product will sell, given its appeal and competitors' prices. | :[[Target costing]]. Deducting the desired profit margin from the price at which a product will sell, given its appeal and competitors' prices. | ||
| + | According to [[Managerial Accounting by Braun, Tietz (5th edition)]], | ||
| + | :[[Target costing]]. An approach to pricing used by pricetakers; target costing begins with the revenue at market price and subtracts the company's desired profit to arrive at the target total cost. | ||
| − | [[Category: Marketing Management]][[Category: Articles]] | + | [[Category: Marketing Management]][[Category: Articles]][[Category: Accounting]] |
Latest revision as of 19:16, 16 July 2020
Target costing is deducting the desired profit margin from the price at which a product will sell, given its appeal and competitors' prices.
Definition
According to Marketing Management by Keller and Kotler (15th edition),
- Target costing. Deducting the desired profit margin from the price at which a product will sell, given its appeal and competitors' prices.
According to Managerial Accounting by Braun, Tietz (5th edition),
- Target costing. An approach to pricing used by pricetakers; target costing begins with the revenue at market price and subtracts the company's desired profit to arrive at the target total cost.
