Which of the following approaches attempts to reflect how a firm wants consumers to interpret its products relative to the offerings of rival companies?
A)Cost-based pricing method
B)Value-based pricing method
C)Competitor-based pricing method
D)Supply-based pricing method
E)Demand-based pricing method

Question

Quizplus · Accepted Answer

The competitor-based pricing method attempts to reflect how a firm wants consumers to interpret its products relative to the offerings of rival companies. This approach evaluates the prices of competitors and sets prices based on whether a product is priced higher, lower or at parity with competitors to attract customers.

Which of the Following Approaches Attempts to Reflect How a Firm