When a Firm Bases Its Price Largely on Competitors' Prices

question 118

Multiple Choice

When a firm bases its price largely on competitors' prices, it is using a pricing strategy that is called

• A) going-rate pricing.
• B) value pricing.
• C) everyday low pricing.
• D) perceived value pricing.
• E) high-low pricing.

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Definitions:

E-tailing

Electronic retailing or online shopping, which is the sale of goods and services through the internet.

E-procurement

Electronic procurement refers to the process of purchasing goods or services for a business using online platforms or technology.

Factoring

A financial transaction where a business sells its accounts receivable to a third party at a discount to immediately generate cash.

Authenticating

The process of verifying the identity of a user or device, often as a part of securing access to systems and information.