The annual units sold by a competitor can influence our pricing strategy by providing insights into the competitor's market share. A larger market share, indicated by a larger number of units sold, may suggest that the competitor's pricing strategy is effective. This information can be used to adjust our own pricing strategy, either by matching the competitor's price to compete for market share, or by differentiating our product and setting a higher price. It's important to consider other factors as well, such as product quality and perceived value.
Need to evaluate the best pricing strategy for a product? This Pricing Strategy spreadsheet includes...
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