Queeg Industries sells all types of artists' paint brushes.When the owner of Queeg learned that Patterson Art,one of its biggest competitors in the Northeast region,had lowered its prices on all synthetic brushes by 5 percent,he did the same.This is an example of _____ pricing.
A) status quo
B) target return
C) market share
D) predatory
E) cost-plus

Question

Quizplus · Accepted Answer

This is an example of status quo pricing, which means the company is adjusting its prices to match its competitors without trying to gain any additional market share or increase profitability.

Queeg Industries Sells All Types of Artists' Paint Brushes