What pricing method may be used if there are several providers in the same market and there is sufficient demand for your product?
A)Demand-based method
B)Total cost method
C)Cost-plus method
D)Competition-based method

Question

Quizplus · Accepted Answer

Competition-based pricing method is the best choice when there are several providers in the same market and there is sufficient demand for your product. Under this method, you determine your price based on the prices of your competitors. This ensures that your price is competitive and in line with the prevailing market rates.

What Pricing Method May Be Used If There Are Several