If Macy's department store managers looked at Dillard's department store prices for identical national brands and, based on that information, decided to advertise a sale on those products, they would be exercising which pricing method?
A) Competition-based
B) Demand-based
C) Cost-based
D) Premium
E) Penetration

Question

Quizplus · Accepted Answer

This is because Macy's is basing their prices on the prices of their competitors, in this case, Dillard's. This is known as competition-based pricing.

If Macy's Department Store Managers Looked at Dillard's Department Store