If a company wishes to be a price-setter, which of the following strategies should they take?

Question

Quizplus · Accepted Answer

In order to be a price-setter, a company should produce a unique product that is not easily replicated by competitors. This allows the company to have a competitive advantage and set prices according to the value of their product rather than being forced to lower prices due to competition. Additionally, producing a unique product can create brand loyalty and increase customer demand.

If a Company Wishes to Be a Price-Setter, Which of the Following