Question

Suppose a company selling in various country markets makes statements such as "we know what the customer wants, and he or she will have to pay for it." This is an indication of a(n) ________ approach to setting prices.

Answer 1

Ethnocentric

Step-by-step explanation:

Ethnocentric pricing strategy requires for the price of a specific merchandise to be similar all over the world. When this method is practised by an organization, it renounces some prospects to set higher prices in nations where an inferior pricing is required.