Which of the following involves setting prices based on a rival firm's strategies, costs, prices, and market offerings?
A) target return pricing
B) good-value pricing
C) competitor value-added pricing
D) market-based pricing
E) competition-based pricing

Question

Quizplus · Accepted Answer

Competition-based pricing involves setting prices based on a rival firm's strategies, costs, prices, and market offerings. The goal is to stay competitive and capture market share from the rival firm. Target return pricing focuses on achieving a specific return on investment, good-value pricing aims to provide the best value to customers, competitor value-added pricing is where price is set based on how much value the product adds to the customer compared to competitors, and market-based pricing considers the overall market demand and supply.

Which of the Following Involves Setting Prices Based on a Rival