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WAEC Marketing 2019 Question 22

Question 22

Pricing

The pricing approach that is based on what rival companies are charging is

  1. A.cost-oriented approach.
  2. B.demand-oriented approach.
  3. C.competitors-oriented approach.
  4. D.value-oriented approach.
Show the answer and explanation

Answer: C (competitors-oriented approach.)

Explanation

Basing prices on rivals' prices is competition-oriented pricing.