Competitive pricing definition A simple definition of competitive pricing is when you create product prices based on the prices being offered by your competitors. Of course, that’s the simplest explanation, but it can also be a genuinely useful business and research tool. For example, if you’...
COMPETITIVE PRICING DefinitionCOMPETITIVE PRICING generally is where firms must be able to offer the best price in the market and meet price erosion without compromising quality. This is normally met whenever a firm finds acceptable a prices-production combination such that: a. At these prices, ...
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What is Competitive Pricing? Competitive Pricing is a method by which companies set the prices of their goods and services relative to the market rate set by competitors. Therefore, competitive pricing—or “competition-based pricing”—is a strategy predicated on the notion that a business must ...
Define competitive. competitive synonyms, competitive pronunciation, competitive translation, English dictionary definition of competitive. adj. 1. Of, involving, or determined by competition: competitive games. 2. Liking competition or inclined to compe
competition-based pricing competitive advantage Competitive Bid Competitive bidders competitive bidding competitive market analysis Competitive offering competitive strategy competitive tender competitive tendering competitive trader competitor competitor analysis Complementary Financing complementary products Complete complete...
competitive pricing.A definition of the term "competitive pricing" is presented. It refers to setting a price by reference to the prices of comparable competitive products.EBSCO_bspBloomsbury Business Library Business & Management Dictionary
Competitive Pricing: Once a product is ready for market, there are a variety of ways to determine and set prices. After the business figures out its break-even points, the strategy they take in marketing can make or break a business. Many businesses may use price skimming if their product ...
Tactical competitive intelligence focuses on short-term, immediate needs and actions, providing actionable insights that can be directly implemented to improve current operations. This type of intelligence is often granular and specific, targeting particular aspects of the business such as pricing strategies...
Above the competition pricing requires the business to create an environment that warrants the premium, such as generous payment terms or extra features. Rather than compete on price, the business must compete on quality if it hopes to charge a premium price. A business may set the pricebelow ...