For most products, it is difficult to identify a specific market price for a product or product class.Still, marketing managers often have a subjective feel for the competitors' price or market price.Using this benchmark, they then may deliberately choose a strategy of
A)above-, at-, or below-market pricing.
B)loss-leader pricing.
C)penetration pricing.
D)bundle pricing.
E)experience curve pricing.

Question

Quizplus · Accepted Answer

Marketing managers often use the competitors' price or market price as a benchmark to determine their pricing strategy. Based on this benchmark, they may choose to price their product above, at, or below the market price to create a competitive advantage or to maximize profits. A, above-, at-, or below-market pricing, is the strategy that would best fit this scenario. The other pricing strategies listed do not necessarily require the use of a benchmark price to determine their pricing strategy.

For Most Products, It Is Difficult to Identify a Specific