The correct answer is C. life cycle costing.
Life cycle costing is a technique that accumulates and tracks costs of business function in value chain attributed to each market, offering from R and D to final customer support. It is a comprehensive approach to cost management that considers all costs associated with a product or service, from its initial development to its disposal.
Life cycle costing can be used to identify and reduce costs, improve profitability, and make better decisions about product development and marketing. It can also be used to comply with government regulations and environmental standards.
A. product life cycle is the stages in the life of a product, from its introduction to the market to its eventual withdrawal.
B. life cycle budgeting is a process of estimating and tracking the costs associated with a product or service over its entire life cycle.
D. target costing is a method of setting prices for products or services based on the costs of production and the desired profit margin.