3

If you are a business that charges neither at the premium end of the scale nor the cheapest... but charge around average prices, what is the name for that?

Off the top of my head I'm thinking:

  1. Industry standard cost
  2. Going rate

Or is there a better way of putting it?

  • 1
    Generally, the "going rate" applies to the typical selling price of a specific product. But your question seems to be about a company that sells mid-range products (rather than products aimed at the budget or luxury market). Are you asking about differences in price markup between different resellers (for the same product), or the fact that different manufacturers may target a low, mid-range, or high-end customer base in terms of production costs (irrespective of any potential middleman's profit)? – FumbleFingers May 15 '17 at 15:18
  • 1
    Market prices means middle of the road rates. – Yosef Baskin May 15 '17 at 18:22
  • If you're referring to the retail price, I've often heard it called the "suggested retail price," or "list price." Technically this refers to the price recommended by the manufacturer. – RaceYouAnytime May 16 '17 at 0:25
0

In the healthcare world, the term is "Usual and Customary. That's the amount the insurance company agrees is reasonable for the service or product provided.

"Your insurance covers 80% of the usual and customary cost for that procedure."

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.