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Building products to meet all the needs of all people is not only hard, but it’s also expensive. Back to top ) Grow your opportunities with TAM insights Once you know the TAM for any given product, you can better understand your current market position and identify areas for growth.
As the name implies, it’s just matching the prices of your competition, a move preceded by price benchmarking, in which you evaluate and then meet a competitor’s pricing. This strategy applies to almost any market, be it software or shampoo. The Pros It can help grow or protect marketshare.
Making regular price adjustments to match or undercut similar offerings in the same market is a common tactic used by companies of all types and sizes. It’s about meeting consumer expectations. Here are a few: Helps you create market alignment Competition based pricing helps you align your prices with the market.
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