Competition-Based Pricing price competitive level would be indicated when the price is usually set according to the laws of supply and demand.
However, this tactic just considers the selling prices of the competition's goods and does not account for start-up costs.
By preventing the loss of clients and market share to other companies, competitive pricing analysis enables the business to control the competition.
A pricing strategy in which factors such as consumer demand and manufacturing costs are less important than the price of a comparable product supplied by a strong competitor; is also known as competition-based pricing.
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