Question

What type of pricing objective would an organization use if it were in a favorable position and desired nothing more

Answer 1

status quo pricing is a type of pricing objective would an organization use if it were in a favorable position and desired nothing more.

What is status quo?

• A status quo pricing approach entails gradually bringing our product's price up to some standard.
• In other words, it's possible that we'll match the price of our rivals.
• Price matching is what we do. Another approach we could take is what's known as a price guarantee.
• In other words, a status quo pricing approach is one in which we maintain our price over time and promise that it won't change.

You might do it, for example, if you want to compete on criteria other than price. So, for instance, you might choose a status quo pricing strategy if you believe you can turn a profit by selling your product for the same price as your rivals.

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