Competitive pricing
What Competitive pricing means in Business GCSE, as defined for AQA.
Definitions of Competitive pricing
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Reference: AQA
In the 4Ps, price often becomes more competitive during maturity, for example through price cuts, promotional pricing or value positioning to defend volume.
Setting a price close to, or slightly below, the prices charged by rival businesses for similar products.
Setting prices at or near those of rivals to help a business remain competitive.
Topics that use Competitive pricing
Related terms
- Access to customers
- Adaptation and reaction
- Adaptation to change
- Advertising
- Balancing
- Batch Production
- Brand awareness
- Brand awareness and image
Using Competitive pricing in the exam
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