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But although firms can now measure this sort of thing in a more sophisticated way, basic rules of thumb are still the most common way of setting price.
ECONOMIST: Pricing strategies
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If you are using a software package like Quickbooks, this report is only a few clicks away, if you are not that sophisticated yet the math is pretty basic.
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It has had many linear improvements, from the basic zombie-chomping games of old through the sophisticated Ville-structured games of today.
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Mr Perret said that while mobile phones were hugely popular in Africa, most people used very basic mobiles or feature phones rather than the more sophisticated smartphones seen in the US and Europe.
BBC: Egypt phone
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Basic products like ethylene are the sort of thing that a sophisticated economy like the US should have left behind.
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Sophisticated clients don't necessarily need an adviser to do basic trades, and it is also much cheaper to do it on their own.
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In fact, it's far less sophisticated than you might expect -- the lightweight device reads out basic text, lets you skip through music tracks and, of course, displays the time.
ENGADGET
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The basic Looker app will be free but Kogeto plans to charge for premium features like sophisticated editing tools and greater amounts of storage on its site.
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Many people lacked basic skills or education and had barely ever used a telephone, much less a computer or sophisticated factory equipment.
FORBES: Magazine Article
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Khoi Nguyen, a group product manager for security provider Symantec, said that in a world of sophisticated online technology, smartphone users are most likely to fall prey to a more basic attack -- old-fashioned theft.
CNN: Smartphone security threats likely to rise
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And by emphasising its cheapness rather than its basic but appealing qualities, it deterred slightly better-off consumers who could afford one but aspired to more sophisticated vehicles, such as those from Tata's biggest rival, Maruti, the leader in India's small-car market.
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