ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Competitor pricing analysis is the process of analyzing the pricing strategies of your competitors, in order to know about their pricing strategies and positioning.

Detailed explanation-2: -Competitive pricing analysis is an evaluation of the consumers reaction to new prices by means of research based on historical data or polls. Most often, price analysis examines customers’ response to a price without considering the costs and potential profits for the business.

Detailed explanation-3: -A competitor analysis, also referred to as a competitive analysis, is the process of identifying competitors in your industry and researching their different marketing strategies. You can use this information as a point of comparison to identify your company’s strengths and weaknesses relative to each competitor.

Detailed explanation-4: -A competitor SWOT analysis is simply a way to assess your competitor’s Strengths, Weaknesses, Opportunities and Threats so that you can better understand their business and, in turn, your own.