Multiple choice

The method of pricing the product based on the competitor's cost is called as _____

  1. Market based pricing

  2. Competitor pricing

  3. Going on pricing

  4. Going rate pricing
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Going rate pricing is a pricing method where prices are set based on competitors' prices rather than the company's own costs. This is common in markets with price competition where businesses match or slightly adjust their prices relative to what competitors charge for similar products.

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