Pricing based on what the market will bear works only for non-standardised products in markets where there is low competition.

Name: Pricing based on what the market will bear works only for non-standardised products in markets where there is low competition.
Brand: Quizplus
Rating: 4.8 (38 reviews)

Question

Quizplus · Accepted Answer

Pricing based on what the market will bear is a strategy that can be used in markets where there is little competition and products are not standardized. In such markets, sellers can charge whatever price they believe the market will tolerate.

Pricing Based on What the Market Will Bear Works Only