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| Name | Competitor Pricing | Pricing Strategies | Marketing |
| Video Uploader | Video From tutor2u |
| Upload Date | This Video Uploaded At 04-09-2022 14:42:28 |
| Video Discription | Competitor pricing is where a business bases its selling prices on the prices of its direct competitors rather than, for example, its own costs. For example it might try to "price match", or aim to offer lower prices than a competitor. #competitorpricing #alevelbusiness #marketing VIDEO CHAPTERS 00:00 Introduction 00:12 What is competitor pricing? 01:33 Advantages of competitor pricing 02:48 Drawbacks of competitor pricing VIDEO SUMMARY This video is about competitor pricing, a pricing strategy that is based on competitor prices rather than other factors such as the costs of actually making or buying the products. The video discusses the advantages and disadvantages of competitor pricing. Competitor pricing can be a good way to remain competitive in a market where consumers have lots of choices. By setting your prices similar to your competitors, you can avoid the risk of being too expensive and losing customers to competitors. Competitor pricing can also be used as a defensive mechanism to protect market share and boost gross margins. However, there are also some downsides to competitor pricing. If a business has different costs compared with the competition, then basing their prices on competitors could mean that they earn a lower profit margin. Additionally, if competitors have got their prices wrong and are setting them at an unsustainable level, then a business that follows competitor pricing will simply be replicating their mistake. [M82NDCcppRc] |
| Category | Education |
| Tags | competitor pricing | price matching | competitive pricing | pricing | pricing strategies | tutor2u business | takingthebiz | pricing products | product pricing | pricing strategy | how to price a product | a level business | a level business revision |
