Going Rate Pricing Is Which of the Following

question 20

Multiple Choice

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

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Definitions:

Chronological Age

The actual age of an individual or thing as measured in years from the date of birth or inception.

Mental Age

A measure of an individual's cognitive ability compared to the average cognitive ability of an individual of a certain chronological age, used in intelligence testing.

IQ

An abbreviation for Intelligence Quotient, a measure of a person's intellectual abilities in relation to their age group, typically assessed through standardized tests.

Wechsler Intelligence Test

A standardized test designed to measure human intelligence through various verbal and non-verbal tasks.