The most widely practiced retail pricing technique is _____.
A)markup pricing
B)competition-oriented pricing
C)prestige pricing
D)demand-oriented pricing

Question

Quizplus · Accepted Answer

Markup pricing is the most widely practiced retail pricing technique where the retailer adds a specific amount or percentage to the cost of the product to determine its selling price. This method is easy to apply and allows for consistent profit margins. Competition-oriented pricing relies on setting prices to match or beat competitors, but this may not always result in profitable margins. Prestige pricing involves setting higher prices to create a perception of higher quality or exclusivity. Demand-oriented pricing adjusts prices based on consumer demand, but this method may be challenging to determine accurately. Therefore, markup pricing is the best choice for a widely practiced and consistent pricing technique.

The Most Widely Practiced Retail Pricing Technique Is _____