Although many retailers must match competitors' prices on identical items, maintaining a ________ pricing policy may not be healthy for a small business because it robs the company of the opportunity to create a distinctive image in its customers' eyes.
A)markup
B)follow-the-leader
C)below-market
D)matching

Question

Quizplus · Accepted Answer

A "follow-the-leader" pricing policy involves setting prices based on competitors' pricing, which can prevent a small business from establishing a unique brand identity and differentiating itself in the market.

Although Many Retailers Must Match Competitors' Prices on Identical Items