Question

26. In going rate pricing an organization bases its price based on
(A) Competitors price
(B) Self decision
(C) Consumers preferences
(D) None of the above
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Answer 1

Answer:

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Explanation:

(A) Competitors price...

Because they need to keep it less than them, or else no one will buy from them...

Answer 2

In going rate pricing an organization bases its price based on (A) Competitors price.

Explanation for the answer:

• The going rate for a product or service is based on its Competitors price or market price.
• It is based on what competitors with similar offerings are selling their products for.
• It is because if they charge high prices no one will buy.
• Hence, the correct answer among all the options is option (A) Competitors price.

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