Commercial Applications
It is also known as 'going rate pricing' or competition based pricing.
- Skimming
- Parity pricing
- Penetration pricing
- Cost plus pricing
Marketing Mix
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Answer
Parity pricing
Reason — Under parity pricing, a business firm adjusts its own price policy to the general pricing structure in the industry. It involves charging according to what competitors are charging. Therefore, it is also known as 'going rate pricing' or competition based pricing.
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