Question

Ryan gave the manager of his convenience store a set of binoculars so she could see the gasoline prices charged by the other convenience store at that intersection. Ryan told the manager to always match the gasoline prices of the other store. Ryan is using a ________ pricing strategy.

Answer 1

Answer: Status quo

Explanation:

Status quo pricing strategy is known to be a type of pricing strategy in which a company make its product available for sale at the price or amount that other companies charge for the sale of their product. Thus, this strategy makes the company to generate stable profit and revenue because more customers will be attracted to buy the product if the price is the same as other similar products.