8/7/2023 0 Comments Competitor pricing strategy![]() Instead, consider holding firm on your pricing and changing up your messaging. Many customers pay a premium for quality,” wrote Shopify.Īs the market begins to discount their offering, it can be tempting to follow suit. Use your competitive analysis to find a feature that makes your brand different than your competition. To avoid the risk of your product or service becoming a commodity, emphasize the other unique selling points of your company. Compete on other featuresĬompeting on price can quickly lead to over-discounting your good or service and devaluing your brand. Ultimately, you want to drive sales based on what makes your company unique, rather than what your competitors are doing. There are pros and cons to each of these strategies. You may choose one of these strategies or use all of them depending on where you are in your business growth. For instance, a smartphone with wireless headphones and other accessories.
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