Understanding the pricing strategies of competitors can provide invaluable information about the market and how to best position your offerings. Dan Cakora, Business Consultant at Vendavo contributes his thoughts in Distribution Pricing.
My advice to anyone who finds themselves using a different pricing strategy than their competitor is to dig a little deeper and potentially reconsider your own pricing strategy to ensure it is still in line with the market. Run back through your price optimization analysis and look to see if there are some unusual price matrix issues that just need to be dealt with mechanically in your ERP system.”
Dan cakora, business consultant