At or near industry average price is called

Question

Quizplus · Accepted Answer

The going rate refers to pricing products or services at or near the industry average price, which is a common strategy in highly competitive markets. This approach ensures that prices are not too high to drive customers away or too low to cause losses. Captive pricing involves setting the price of a main product low to encourage sales of complementary products at a premium price, while bait pricing offers a product at a very low price to attract customers but then sells other products at higher prices. Price signaling involves hinting at price changes to competitors or customers.

At or near Industry Average Price Is Called