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if sears department store managers looked at macy's department store prices for identical national brands and, based on that information, decided to advertise a sale on those products, they would be exercising which pricing method?

Respuesta :

Sears department store managers would be using competition-based pricing.

Define competition-based pricing.

Competitive based pricing, also known as competition-based pricing, refers to a pricing strategy in which your own price point is significantly influenced by that of your rivals. This tactic puts more emphasis on the market than it does on your expenses (Cost Plus Pricing). The tenet of competitor-based pricing is the conviction that market participants already know the answer and that every decision taken by rivals is wise. This can be a fair pricing strategy if just one company uses it, setting its prices after considering the current price range.

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