What is competitive pricing?

For starters, competitive pricing can basically be defined as the standard setting of prices of both products and services based on competition pricing.

Competitive pricing is normally applied by businesses dealing with similar products, since services vary from entity to entity, while the features of a product remain identical. Price is an essential component when it comes to the marketing mix and as such, pricing can make or break a business. Discover our price monitoring software and our price tracker to improve your pricing strategy  !