A company in Singapore produces more ornamental fish than any other company in the world--nearly one-third of the world's pet guppies, tetras, goldfish, mollies, and other species. Small producers of tropical fish in other parts of the world would more than likely use a _____ pricing strategy.

Question

Quizplus · Accepted Answer

Small producers of tropical fish in other parts of the world, competing against a dominant company like the one described, would likely use a status quo-oriented pricing strategy. This approach aims to maintain existing market conditions and avoid price wars by setting prices similar to the competition, in this case, the leading company in Singapore.

A Company in Singapore Produces More Ornamental Fish Than Any