Competitive pricing can be disadvantageous in several ways. Firstly, it can lead to a price war where competitors continuously lower their prices to outdo each other, which can significantly reduce profit margins. Secondly, it can discourage innovation as businesses focus more on matching competitors' prices rather than improving their product or service. Lastly, it can lead to a lack of differentiation in the market, making it harder for businesses to stand out from their competitors.
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