Pricing a product at competition is called _____ and is popular for homogeneous products.
A) sealed-bid pricing
B) bundle pricing
C) open pricing
D) going-rate pricing

Question

Quizplus · Accepted Answer

Pricing a product at competition (i.e., the average price charged by the industry) is called going-rate pricing and is popular for homogeneous products, since this approach represents the collective wisdom of the industry and is not disruptive of industry harmony.

Pricing a Product at Competition Is Called _____ and Is