What is COMPETITIVE PRICING?
Competitive pricing is setting the price of a product or service based on what the competition is charging. Competitive pricing is used more often by businesses selling similar products, since services can vary from business to business while the attributes of a product remain similar.
According to the definition given by Business dictionary, it means “A price lower than that offered by the competitors, or a price made more attractive because of added incentives, such as longer payment terms.”
Have you set the price of your products based on this or do you have your own formula..do share.
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