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    Competitive Pricing Analysis

    A competitive pricing analysis is an assessment of how one brand's product prices compare to other similar products in the market.

    What Is Competitive Pricing Analysis?

    A product's price can make or break a sale. Price a product too low and you risk brand-damaging margins. Price it too high and consumers might find it too expensive. Competitive price analysis is the process of evaluating similar products on the market to strike a sweet spot that generates sales and helps a brand stay competitive. When conducting a competitive pricing analysis, brands assess product prices for items directly in their product category, as well as similar items, items from different-sized businesses, and related products. In many cases, but not all, brands will ensure their price is slightly less than their competitors to entice consumers to purchase from their company. Strategically pricing products using a competitive pricing analysis can help brands increase their margins, win consumers' business, and beat out their competition.

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