Distinguish between cost-oriented pricing and demand-oriented pricing.

Cost-oriented pricing and demand-oriented pricing are two distinct pricing strategies that businesses use to set the prices for their products or services. Here's a comparison to distinguish between them:

Cost-Oriented Pricing:

1. Cost as the Basis: Cost-oriented pricing, as the name suggests, primarily relies on the costs incurred in producing or providing a product or service. It involves calculating the total cost of production, including materials, labor, overhead, and sometimes a desired profit margin.

2. Markup Pricing: In _________ _______ __________ _______ _______ ________ ____ ______.
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