The most common pricing strategy in industrial settings where the buyer has a lot of power is cost-plus pricing. This strategy involves setting the price of a product at a level that incorporates the cost of production plus a markup to cover profits.
This strategy is attractive to buyers because it allows them to know exactly how much they are paying for the product and gives them some control over the price. Additionally, it ensures that the seller makes a profit on the product. The markup is usually determined by the buyer’s willingness to pay and the seller’s ability to negotiate. Cost-plus pricing is often used when the buyer is the dominant party in a transaction and the seller is in a weaker position.
To know more about cost plus pricing click here
https://brainly.com/question/29509908
#SPJ4
