Hey guys,
I have a quick pricing question that's been bothering me for the past few days. Let's say that I have 2 core competencies that can't be replicated by my competitors. Because these competencies have value, I'm not sure whether or not I should sell my products at a lower price or match the competitors' prices. Selling at a lower price means that consumers won't think twice about purchasing my product. Selling at the same price means that I'll earn more profits.
My take is that since I'm a new company and have not established any market share, my best bet is to sell the products at a lower price. What do you think?
I have a quick pricing question that's been bothering me for the past few days. Let's say that I have 2 core competencies that can't be replicated by my competitors. Because these competencies have value, I'm not sure whether or not I should sell my products at a lower price or match the competitors' prices. Selling at a lower price means that consumers won't think twice about purchasing my product. Selling at the same price means that I'll earn more profits.
My take is that since I'm a new company and have not established any market share, my best bet is to sell the products at a lower price. What do you think?
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