Going rate pricing is which of the following?
A)An approach to pricing which takes a range of marketing factors into account when setting prices
B)Pricing at the rate generally applicable in the market, focusing on competitors offerings rather than on company costs
C)Pricing strategy that follows the market leaders set price, rather than focus on customer value or costs
D)An approach to pricing which takes costs, competitors prices and what consumers perceive as true value

Question

Quizplus · Accepted Answer

Going rate pricing is a pricing strategy that focuses on setting prices at the rate generally applicable in the market, based on what competitors are offering, rather than on company costs or customer value. This approach assumes that customers perceive products as similar enough that price becomes the key factor in decision-making.

Going Rate Pricing Is Which of the Following