Question

When Greenbelt Construction Company began building houses in a large subdivision with many other builders, the company priced its homes slightly higher than its competitors and promoted the added quality features found in Greenbelt's homes. Greenbelt was using a(n) ________ pricing strategy.

Answer 1

Answer: Greenbelt was using a COMPETITIVE BASED pricing strategy.

Explanation:

This is a pricing strategy in which the company looks at the pricing of the other companies who operates in the same industry and then taking that to influence their own pricing. They do this by searching in the information that the other businesses advertised without really knowing what strategies were used by these companies,so they use the publicised Information and to also find what features are there in their competitors so that they may add something diffrent or keep it the same.

Greenbelt priced its homes slightly higher than its competitors and promoted the added quality features , the method of promoting the added quality features is to let people compare with the competitors and see that Greenbelt has added something diffrent and of quality and they can possibly beat their competitors in the same area.