Firms will often implement randomized pricing in an attempt to reduce:
A) only competitor price information.
B) only consumer price information.
C) both customer and competitor information about price.
D) Randomized pricing does not affect information available to consumers or competitors.

Question

Quizplus · Accepted Answer

Randomized pricing can help to prevent customers from having access to consistent pricing information, making it more difficult for them to compare prices with competitors. It may also make it difficult for competitors to gather accurate information on the firm's pricing strategies. Therefore, randomized pricing reduces both customer and competitor information about price.

Firms Will Often Implement Randomized Pricing in an Attempt to Reduce