The policy at Wills Hardware store is that if you find a lower price at a competitors store, they will match the price. This is known as a goal in pricing where the firm will meet the .....

MARKETING MANAGEMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The policy at Will’s Hardware store is that if you find a lower price at a competitor’s store, they will match the price. This is known as a goal in pricing where the firm will meet the ____

A	Market share
B	Return on investment
C	Competition
D	Cost-Benefit Analysis

Explanation:

Detailed explanation-1: -11. Value-Based Pricing Strategy. A value-based pricing strategy is when companies price their products or services based on what the customer is willing to pay. Even if it can charge more for a product, the company decides to set its prices based on customer interest and data.

Detailed explanation-2: -Predatory pricing is the lowering of prices by one company for the purpose of driving rivals out of the business. At that point, the company can raise prices, and in fact, must raise prices in order to recoup losses and survive.

Detailed explanation-3: -Horizontal price fixing refers to the right of manufacturers to control retail prices. It is not illegal for retailers to reach agreements with one another regarding the use of coupons.

Detailed explanation-4: -Hence the most common method used for pricing is cost plus or full cost pricing.

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