Competition-based pricing is used when costs and revenues are secondary to competitors' prices.
Pricing that adjusts in accordance with changes in rivals' prices is known as "competition-based pricing." A customer's willingness to pay or the worth of the product are not factors in the product pricing; only prices charged by competitors are considered.
By carefully placing prices above, below, or the same as their immediate competitors, businesses may preserve an edge through competitive pricing. Although it is not appropriate for every firm, competition-based pricing may be a very successful strategy. To engage in competitive pricing, research what other companies are charging for similar products or services and adjust your rates appropriately. Prices that you establish may be higher, lower, or comparable to those of rival companies.
Hence the correct option is D
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