Which of the following kinds of pricing strategies would you expect producers to use for pricing homogeneous products,such as wool,tomatoes,wheat,coal,and bone meal?
A)Penetration pricing
B)Going-rate pricing
C)Skimming pricing
D)Sealed-bid pricing

Question

Quizplus · Accepted Answer

Producers of homogeneous products typically use going-rate pricing strategy, which means setting the price based on the prevailing market price for the product. Since the product is undifferentiated, price becomes the main competitive factor, and producers have limited scope to use other pricing strategies such as skimming or penetration pricing. Sealed-bid pricing is typically used in competitive bidding situations where buyers submit sealed bids for a specific product or contract.

Which of the Following Kinds of Pricing Strategies Would You