A firm that considers costs and revenue secondary to competitors' prices when setting its own prices is using a competition-based pricing strategy.

Name: A firm that considers costs and revenue secondary to competitors' prices when setting its own prices is using a competition-based pricing strategy.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Competition-based pricing strategy involves setting prices based on the prices of competitors rather than considering costs and revenue alone.

A Firm That Considers Costs and Revenue Secondary to Competitors