A firm that bases its price on how it thinks the competitors will price, rather than on its own costs or demand, in order to win a contract is most likely using

Related MCQs

• When a firm sets a very low price for one or more of its products with the intention of driving its competitors out of business.
• When a firm sets a very low price for one or more of its products with a view to drive its competitors out of market is known as ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐.
•   pricing is the approach of setting a low initial price in order to attract a large number of buyers quickly and win a large market share.
• A firm has decided to alter its pricing and promotional strategies in response to slower than expected job growth and declining personal incomes. The firm is responding to changes in its:
• When a new product arrives in the market with higher quality, higher value and new features better than its competitors. Such products are known as
• "rather than intermediaries creating demands for the product,consumers demand the products from
• Through their contacts, experience, specialization, and scale of operation, ______________ usually offer the firm more than it can achieve on its own.
• Marketing decision makers in a firm must constantly monitor competitors' activities-their products, prices, distribution, and promotional efforts-because
• When initiating price changes the company must anticipate possible reactions from both buyers and competitors.
• ________ takes place when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties.