Competitive Pricing – Product Pricing series part 2
Channel: Enhance.training
Date: 31/12/2020

In this video, our second part of our Product Pricing Series, we take you through Competitive Pricing. Is this the best pricing strategy for you to price your product for profit? Whilst it is great to be aware of the market around you, we show you why copying isn’t always the best answer.

When you don’t know how to price your product, it is tempting to look at the competition and use their prices as a basis for yours. But what happens if you end up copying the wrong answer? Or what happens if your competition reacts to your price; what should you do then?

In this video on Competitive Pricing, we take you through this popular pricing method, what's great about it and what to watch out for. 

00:00 Intro
01:35 What is Competitive Pricing
02:57 Who uses Competitive Pricing
06:16 Why it's great
07:31 What outs
08:56 In Summary


Other videos that will be useful to you and more from our Product Pricing Series:
Pricing Strategy - 4 reasons to have one    https://youtu.be/lOmtO9jmNDU 
Cost Plus Pricing - An Introduction              https://youtu.be/chn_vRnwGZc 
Competitor Pricing Strategy                         https://youtu.be/6vHHQ-6yMcQ  
Value Pricing Strategy                                   https://youtu.be/KK222DrtPF0 


I hope these tips are helpful, and if you have any questions, please leave a comment below and I will get back to you.