How do you price a product? You look at the margin you want to make. Look at what your competitors are charging.
Why Competitor Pricing Doesn't Have to be a Race to The Bottom
Posted by
Rob Horton on July 28, 2020
Topics: Competitor Pricing, Ecommerce Pricing
There is a real danger in “race to the bottom” pricing – basically, no one wins.
By automatically diving to the bottom price all you’ve done is dented your profit margin and your reputation – and lowered the perceived value of your product.
Topics: Competition, Competitor Pricing
Competitive-based pricing, or market-oriented pricing, involves setting a price based upon an analysis of what the competition is up to pricing-wise. You can choose to price-match - or price your goods higher or lower, dependent on what your overall business goals are and how you wish your product to be perceived.
Topics: Pricing, Competitor Pricing