In many high-end resort markets, Westin hotels compete directly with Crown Plaza hotels. When it comes to pricing, Westin tends to charge its guests similar rates to what the Crown Plaza hotels charge. Westin is using a ________ pricing strategy.

A) maximizing profits
B) target profit
C) target return
D) competitive parity
E) sales oriented

Competitive Parity

A marketing strategy where a company allocates its budget to match its competitors' spending to avoid being outspent in key areas.

Pricing Strategy

The approach adopted by a business to set the price for its products or services, taking into account factors such as costs, market demand, and competition.

Westin

Westin Hotels & Resorts is a luxurious chain of hotels known for its wellness amenities, including fitness studios, nutritious foods, and comfortable bedding, aiming to enhance guests' well-being.