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Lenny Njau
Strategy Consultant, Kenya
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Why Competitive Pricing? Reasons for Competitive Pricing
The goal of every company, whether a conglomerate or a start up is to " kill competition". That is if they are in it for the profits. Competitive pricing is one key way of achieving this.
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Welcome to the Marketing Strategy best practices. The topic being discussed here is: "Why Competitive Pricing? Reasons for Competitive Pricing".
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Osagie Lee Izekor
Management Consultant, United Kingdom
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Reasons for Competitive Pricing
Consider the role of pricing in the marketing mix 4Ps. Price is a key player in the positioning of a product against competitive products in the market.
Also the price contributes a lot to the perceived value of a product. What do you think?
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Paul Heise
CEO, Netherlands
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Competitive Price / Quality Ratio
There is no need to "kill" competition, just to outperform them, and they will vanish by themselves. Pricing is just one item to attack them, but price/quality ratio is more important.
I have as a new entrant in the ICT industry successfully decimated competition in 3 years time with a product that was 50% more expensive than anything else on the market. But we had 95% market share.
Ferrari is in heavy competition with many other supercar/sportscar makers, but never wins on price, but rather on premium quality, cutting edge design, and life style elements.
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Dennis Osei Assibey
Student (MBA), Ghana
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Customer/ Market Focus
I believe that every company that deals with customers must be market oriented, in the sense that each member of the org...
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Ismail Kashkash, Saudi Arabia
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Why Competitive Pricing?
I have a reservation on "kill competition", we look at the superb impact of red box introduction to a new suitable solut...
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B Siva Sankar
CEO, Qatar
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Competitive Pricing is Just One Element
I also do not subscribe to the "kill competition" concept. Price has never been the only factor in consumer preferences....
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Murlidhar, India
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Competitive Pricing for Commodities
If the product is a commodity, then most of our marketing strategies will not be applicable. For commoditized products, ...
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mOhsin
Events Marketer, Pakistan
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Success of Competitive Pricing Depends on Scenario
The success (of failure) of competitive pricing totally depends upon the market. If a country's economy is not good and ...
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