Pricing based on what the market will bear works only for non-standardized products in markets where there is low competition.

Name: Pricing based on what the market will bear works only for non-standardized products in markets where there is low competition.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Pricing based on what the market will bear is more effective for non-standardized products in low competition markets because it allows sellers to set prices based on perceived value rather than competitive pricing pressures.

Pricing Based on What the Market Will Bear Works Only