Ethical Issues in Fair Price In the limelight of the business arena, prices are normally set differently and consequently receive pressure to line up to ethical standard, These are some of ethical issues brought about by pricing (Shaw, 1999) (a) The true cost of the product is concealed. Some companies normally don't show the real cost of the product with a closed book policy or under the clout of confidentiality, hence the price may not be fair for the consumers . (b) Suggested retail price. The impact on the consumers of a suggested retail price is one that is open to a lot of interpretations, making price determination subject to doubt and suspicion. (c) Use of electronic scanners. The use of electronic scanners in grocery or department stores is not a foolproof method for pricing fairly. It is subject to manipulation and system failure. (d) Promotional pricing. Promo prices such as on sale items manipulate consumers in buying products that are thought to be cheaper. Odd Price Policy on the other hand, deals with both price and advertising ethics that uses odd numbers such as 49.99 instead of 50.00. Odd price has a psychological impact on consumers making them believe that they are paying a lesser price. (e) Follow the leader pricing. Follow the leader pricing is done to purposely make the buyers believe that what is being sold is the same as the well-known brands. This technique gives the impression that products that are priced higher have better quality, while in fact they can be sold for less. (f) Price gouging. Price gouging takes advantage of an economic situation. An example is pricing canned goods higher during typhoons and other natural calamities