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This is the simplest calculation of price premium and involves the comparison of a brand’s price to that of a specified direct competitor. When assessing a brand’s price premium vis à vis multiple competitors, managers can use as their benchmark the average price of a selected group of those competitors. [1]
Competitor indexing is a price setting technique used by marketers, in which a firm pegs the prices of its products those of a competitor. This may involve matching ...
Price competition is particularly destructive to profitability as it is easy to identify price competition meaning other competitors can retaliate. This can lead to a vicious cycle of price reductions, reducing profitability and training customers to overlook service/product quality in favour of the cheapest option available to them
The total surplus of perfect competition market is the highest. And the total surplus of imperfect competition market is lower. In the monopoly market, if the monopoly firm can adopt first-level price discrimination, the consumer surplus is zero and the monopoly firm obtains all the benefits in the market. [15]
Vertical product differentiation can be measured objectively by a consumer. For example, when comparing two similar products, the quality and price can clearly be identified and ranked by the customer. If both A and B products have the same price to the consumer, then the market share for each one will be positive, according to the Hotelling ...
A comprehensive profiling capability is a core competence required for successful competition. [4] A common technique is to create detailed profiles on each of the major competitors. [7] These profiles give an in-depth description of the competitor's background, finances, products, markets, facilities, personnel, and strategies. This involves: