What does barometric price leadership mean?

barometric price leadership meaning in Law Dictionary

The price an organization establishes for products or services. Others utilize this to set their particular rates.

barometric price leadership meaning in Business Dictionary

the purchase price worth or umbrella set by a company for items or solutions, in which other like industry companies start thinking about standard price point to make usage of themselves. Not totally all like businesses follow suit. But sometimes it could be a unanimous business choice.