When products in an industry are relatively homogeneous and price is a key purchase consideration:
A) competition-based pricing becomes more important.
B) demand-based pricing dominates pricing decisions.
C) firms tend to use secondary-market pricing.
D) cost-based methods like markup pricing are dominant.
E) customary pricing is used.

Question

Quizplus · Accepted Answer

When products are homogeneous and price is a key consideration, firms often rely on competition-based pricing to remain competitive, as consumers can easily compare prices across similar products.

When Products in an Industry Are Relatively Homogeneous and Price