THE CONCEPT OF COMPETITVE PRICING (BUSINESS ETHICS)
Competitive pricing is a concept that works to determine the price for a product or service based on the area in which it’s being sold.
In competitive pricing, high-end competitors are always going to be willing to offer their customers the best possible deal. This is because they know that if they do so, they will win over those customers and keep them coming back.
This means that if you’re selling something in an area with higher prices, you have to charge more than your competitors do—but if you do, then you’ll be able to attract more customers and get more of them interested in what you have to offer.
One of the most complicated issues in today’s competitive marketplace is the concept of competitive pricing.
When a company is competing against other businesses, it can be difficult to know how much to charge for a product or service. The problem is that different customers have different expectations about what they will pay for something, and some people are willing to pay more for certain products and services than others.
For example, if you are selling apples at the farmers market, there isn’t much competition on price—you can buy them from any farmer who has an orchard and is selling them on their own property. But if you are selling apples at a grocery store, there will be several competitors who have set up shop there with similar products and services: apples, applesauce, apple juice… there’s just no way around it—you’ll have to compete on price as well as quality!
This means that if you’re selling applesauce at your grocery store (which happens to be located in a high-end neighborhood), your customers probably won’t want to pay as much for an apple-sauce combo as they would for an apple by itself. And if you’re selling apples
When a company sets a price for their product, they are basically saying that they believe that the value of their product is high enough that others will pay more for it. The higher the price, the higher the perceived value of the product is. This means that people living in areas with a high cost of living (such as Banana Island) will be able to buy more expensive products than those who live in less expensive areas.
I think we need to reconsider the idea that high-end goods should be priced at a premium, customers may decide to visit those less expensive areas.
For example, the idea that a good should be priced at #800,000 because it is made of gold would not make sense for most people. In fact, it would be ridiculous! Most people would find that #800,000 is far too much money for something as simple as a spoon or fork.
A better approach would be to price these items at #400,000 or #200,000—the cost of making them—and then offer them for sale with a discount for those who live in areas where such things are more affordable.