Pricing a product at the average price charged by an industry is called _____ and is popular for homogeneous products.
A)sealed-bid pricing
B)bundle pricing
C)odd-even pricing
D)going-rate pricing

Question

Quizplus · Accepted Answer

Going-rate pricing involves pricing a product at the industry average price for a homogeneous product. It is a common pricing strategy in such situations.

Pricing a Product at the Average Price Charged by an Industry