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This approach helps prevent losing marketshare and allows your business to concentrate on adding value, such as improving customer service or making your product easier to use. This strategy applies to almost any market, be it software or shampoo. The Pros It can help grow or protect marketshare.
Here are a few to consider: Cuts into profitmargins Competition based pricing doesn’t work for every business. Conduct market analysis Conduct a thorough analysis of your competitors, including their pricing models, marketshare, and target audience. Consider these steps: 1.
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