Match the definitions that follow with the term it defines. a. Demand-based concept
b. Competition-based concept
c. Product cost concept
d. Target costing
e. Production bottleneck

1. Constraint
2. Combines market-based pricing with a cost-reduction emphasis
3. Only includes the costs of manufacturing in product cost per unit
4. Sets the price according to competitors
5. Sets the price according to demand

1)e. Production bottleneck

2)d. Target costing

3)c. Product cost concept

4)b. Competition-based concept

5)a. Demand-based concept

Explanation:

1.) Constraint ( Production bottleneck)

A bottleneck as regards production can be explained as point of congestion that is reach in a production system, for instance in

an assembly line which takes place

as a result of arrival of workloads so quickly for the handling of production process.

2. Combines market-based pricing with

a cost-reduction emphasis(Target costing)

Target costing can be regarded as approach used in determining of life-cycle cost of product that is required to be sufficient to develop specified functionality as well as quality, making sure desired profit is ensured.

3. Only includes the costs of manufacturing in product cost per unit

(Product cost concept)

Product cost can be regarded as costs that is been incurred during creation of a product. Some of these costs are

factory overhead, direct labor as well as direct materials, and consumable production supplies.

4. Sets the price according to competitors(Competition-based concept)

Competition based pricing can be regarded as Concept that is been used in setting one's prices in relation to the prices of one's competitors.

5. Sets the price according to demand

(Demand-based concept)

Demand Based Pricing can be regarded as pricing method which is focus on customer's demand as well as perceived value of the product.

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