Setting prices for products or services using a particular competitor as a model of reference is known as a
A) variable pricing strategy.
B) flexible pricing strategy.
C) follow-the-leader pricing strategy.
D) price lining strategy.

Question

Quizplus · Accepted Answer

Follow-the-leader pricing strategy involves setting prices based on a particular competitor's pricing model, usually the market leader. This strategy is often used in highly competitive markets where price is a key factor influencing customers' purchase decisions.

Setting Prices for Products or Services Using a Particular Competitor