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Competitive Price Range
The range of prices a company can charge based on the competitive environment.
Implications
The spectrum of pricing that a company�s products or services must fall within to remain competitive, often determined by market research, cost analysis, and competitor pricing.
Example
Example: A retail company sets its competitive price range based on the prices of similar products offered by its top competitors, ensuring it remains attractive to price-sensitive consumers.
Related Terms
Different from premium pricing, which targets higher price points, competitive pricing is about staying within a range that matches or undercuts rivals to remain viable in the market.
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