Why is "Competition-based pricing" often preferred by the sales function? What are the pros and cons?
Competition based pricing is preferred by the sales function as it is a good measure of how much value customers perceive in your product compared to that of one's competitors. It is also a good means by which to measure competition in one's industry. Unfortunately, this can also be used as a means by which to exterminate competition by pricing at margins that smaller companies cannot compete with
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Principles of Marketing
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