How does competition-based pricing work? And when does it make sense to use it? In this article, the author analyzes the pros and cons of competitive pricing and its application, especially in the context of rising global inflation. In the current environment, the majority of companies will need to examine how they can increase their prices rather than drop them to match the competition, as the author explains.
If your competitors continue to outperform your market offerings in terms of sales volume, despite the fact that you offer both higher quality and lower prices, there are four critical elements you need to analyze in order to identify the cause, as the author explains.