Asked by
Abdul Ayubazi
on Nov 20, 2024
Verified
When firms set prices similar to those of major competitors, they are following a strategy of
A) me-too pricing.
B) copycat pricing.
C) competitive parity.
D) market-broadening pricing.
E) industry-standard pricing.
Competitive Parity
A strategy where companies set their prices or marketing efforts to match those of their competitors to maintain market share.
Similar Prices
A situation where products or services offered by different businesses have little to no price variation between them.
Major Competitors
The top or primary companies that compete in the same industry or market, offering similar products or services.
- Gain insight into competitive pricing strategies and their effects on market movements.
Verified Answer
CY
Learning Objectives
- Gain insight into competitive pricing strategies and their effects on market movements.