Competitive pricing analysis is crucial in business strategy as it helps businesses understand the pricing strategies of their competitors. This knowledge can be used to price their own products or services competitively, attract and retain customers, and ultimately generate higher return on investment. It's a key tool in strategic planning, alongside others like SWOT analysis, blue ocean strategy, and Porter's five forces.
Do you feel trapped to outdo competitors? Better strategies can build a stronger defense against com...
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