Considering pricing strategies, the price issue that arise when sellers set prices with opinion from competitors is classified as?
Correct answer: A. price fixing
- A. price fixing
- B. predatory pricing
- C. price maintenance
- D. discriminatory pricing
Explanation
Price fixing occurs when competing sellers coordinate or agree on prices instead of allowing competition to determine them. Predatory pricing means setting prices temporarily low to drive competitors out, so it is a different practice.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? support@testustad.com
About Marketing
Marketing covers how organisations identify customer needs, create value and exchange products or services through suitable markets. Key concepts include market segmentation, targeting, positioning, consumer behaviour, the marketing mix of product, price, place and promotion, branding, product life cycle and differences between marketing and selling.
Practise Marketing
1,700 free Marketing MCQs from Management Sciences, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Exams that ask Management Sciences questions like this
Management Sciences is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Marketing questions
The process of involving the pool of communities for idea building such as customers, employees and even public at large is classified as?
In the 'growth stage of product life cycle' the cost per customer is?
The product life cycle (PLC) stages includes?
The second step in cost based pricing is to?
The first step of cost based pricing strategy is to?
The first step of value based pricing is to?