A competition-based pricing strategy in which all the competitors in an industry follow the pricing practices of one or more dominant firms is known as
A) market fixing.
B) price penetration.
C) price leadership.
D) primary pricing.

Question

Quizplus · Accepted Answer

Price leadership is a competition-based pricing strategy in which dominant firms in an industry set and follow pricing practices that other competitors then adopt. This can result in a stable market with less price competition.

A Competition-Based Pricing Strategy in Which All the Competitors in an Industry