Which of the following is true about competitive pricing?
A) It is set by covering costs and then adding some margin.
B) It is set by covering costs only.
C) It is set by figuring out just how much a customer is willing to pay and pricing near that mark.
D) It is at a medium level, somewhere in between extremes, using competitors' prices as a starting point, and adjusting from there.

Question

Quizplus · Accepted Answer

Competitive pricing involves setting prices based on competitors' prices, using them as a benchmark and adjusting accordingly.

Which of the Following Is True About Competitive Pricing