competitive pricing

• When is competitive pricing used?

  Where products in a market are all very similar
• What is competitive pricing?

  Where some product or services are priced in line with competitors
• Give 2 benefits of competitive pricing?

  Useful in a market where one brand is dominant

  Leads to other brands lowering prices or give discounts
• Give a drawback of competitive pricing?

  Competitive rate may not cover all costs