Which of the following involves setting prices based on competitors' strategies,costs,prices,and market offerings?
A)good- value pricing
B)competition- based pricing
C)added- value pricing
D)market- based pricing
E)target return pricing

Question

Quizplus · Accepted Answer

Competition-based pricing involves setting prices based on competitors' strategies, costs, prices, and market offerings. This approach is commonly used in highly competitive industries where companies need to price their products or services in line with the market to remain competitive. Good-value pricing involves offering the right combination of quality and good service at a fair price. Added-value pricing involves adding extra features or services to a product in order to justify a higher price. Market-based pricing involves setting prices based on supply and demand in the market. Target-return pricing involves setting prices based on a company's desired return on investment.

Which of the Following Involves Setting Prices Based on Competitors