Given that there is a serious disadvantage to cost-based pricing, how would you account for its widespread use in retailing and other businesses?

Purchasing and Supply Chain Management
6th Edition
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Chapter11: Strategic Cost Management
Section: Chapter Questions
Problem 13DQ
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Given that there is a serious disadvantage to cost-based pricing, how would you account for its widespread use in retailing and other businesses?

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