The key to setting a final price for a product is finding an approximate price level to use as a reasonable starting point. Which of the following is one of four common approaches to selecting an approximate price level?
A) competition-oriented
B) cause-oriented
C) revenue-oriented
D) stakeholder-oriented
E) distribution-oriented

Question

Quizplus · Accepted Answer

Competition-oriented pricing is a common approach where the price is set based on competitors' prices, making it a reasonable starting point for setting a final price.

The Key to Setting a Final Price for a Product