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When a company considers how to price a new product, it determines what price it thinks its customers will pay, and then identifies what profit the company needs. From there the company determines the features it can offer on this product. This method of determining price is known as

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This method of determining price after considering customers' willingness to pay is known as c) target costing.

What is target costing?

Target costing is a pricing approach that enables the company to achieve a target profit after determining the product price based on competition.

The purpose of target costing is to estimate the product cost, enabling the company to achieve a target income from sales.

Answer Options:

a) competition-oriented pricing

b) cost-based pricing.

c) target costing.

d) value pricing.

Thus, the method of determining price after considering customers' willingness to pay is known as c) target costing.

Learn more about target costing at https://brainly.com/question/9504887

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