Which strategy involves a firm charging a price identical to or very close to the competition's price?
A)differentiation pricing
B)penetration pricing
C)status quo pricing
D)leader pricing

Question

Quizplus · Accepted Answer

Status quo pricing involves charging a price identical to or very close to the competition's price. This strategy is often used when the market is stable and competitors have similar products, making it difficult to differentiate based on price alone. Other strategies, such as differentiation pricing and leader pricing, involve setting prices either higher or lower than the competition in order to highlight a unique selling proposition or attract more customers. Penetration pricing involves setting a low price to enter a new market and gain market share.

Which Strategy Involves a Firm Charging a Price Identical to or Very