For most products, it is difficult to identify a specific market price for a product or product class. Still, marketing managers often have a subjective feel for the competitors' price or market price. Using this benchmark, they then may deliberately choose a strategy of
A) above-, at-, or below-market pricing.
B) loss-leader pricing.
C) penetration pricing.
D) standard markup pricing.
E) experience-curve pricing.

Question

Quizplus · Accepted Answer

Marketing managers use their understanding of competitors' pricing to set their own prices above, at, or below the market price as a strategic decision.

For Most Products, It Is Difficult to Identify a Specific