Question: To do competition-based pricing effectively, it is important to first: 1 Determine the reference price. 2 Inform the competition of your pricing move. 3 Be

To do competition-based pricing effectively, it is important to first:

1 Determine the reference price.

2 Inform the competition of your pricing move.

3 Be prepared for price war with competition.

4 Establish the price ceiling.

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