When Amy decides to price new products in her cosmetics store, she measures the value of her product offerings against those of the other stores in her area. Amy uses a Competitor-oriented pricing strategy.
Competition-oriented Pricing is defined as a pricing strategy or approach in which a manufacturer's price is set more by the price of a similar product supplied by a prominent competitor than by considerations of consumer demand and production costs.
In the given case, When Amy determines how much to charge for new products in her cosmetics store.
She compares the worth of her products to those offered by other retailers in the region by using the strategy of Competitor-oriented pricing.
Therefore, Amy uses the Competitor-oriented pricing strategy.
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