What is competitive pricing?
A) Price is determined in relation to rivals, factoring in other considerations such as market dominance, number of competitors, and customer loyalty.
B) A company sets a high price to make a large profit; this can work when there is little competition.
C) A company sets a low price to attract many customers and deter competition.
D) This is the strategy of continuously setting prices lower than those of competitors and then not doing any other price-cutting tactics such as special sales, rebates, and cents-off coupons.
E) This is the technique of pricing products or services in odd rather than even amounts to make products seem less expensive.
Answer: A
Explanation: A) In competitive pricing, price is determined in relation to rivals, factoring in other considerations such as market dominance, number of competitors, and customer loyalty.
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