What are the importance of conducting research on competitive price?

[Potuse]

The importance of conducting research on the competitive price for a particular product cannot be overemphasized because you must be able to create one as this will give you upperhand to set a price that will beat those that you are in the same niche. It will give you upper hand to gain more jobs.

 

[Syldan]

There are absolutely alot of importance for the conduct of research concerning a particular product because it will helped you to beat or win the market in terms of demand and supply.
it will helped you to know when and how to get your goods to the market.

 

[eenya001]

You can not just make decisions based on assumptions, you need to make informed decisions and the only way you can make such is when you conduct proper research

 

[Kane]

The price of the product or service is one of the main reasons why people consider buying it or not buying it. People will always consider buying products that are comparatively cheaper. Therefore, you should do price analysis

 

[eLdavis]

Exactly, like myself before i sell out a particular service, i always take my time to find out from others who are also offering the same services as me. Once i find out their price i would know how to fix mine that it would not be too costly and at the same time too cheap.

 

[Planbizzle]

You can improve your profitability by choosing the appropriate price point. Prices that are too cheap may prevent you from turning a sufficient profit. Customers may stop buying from you if your pricing are too high. You can discover a balance that maximizes your profits by researching comparative pricing.

 

[Lens]

It is very necessary to ensure that you will offer your goods and services at competitive price because that is what will make you sail through competition most especially if it is very tough.

 

[Jonaville1]

The importance of conducting research on the competitive price for a particular product cannot be overemphasized because you must be able to create one as this will give you upperhand to set a price that will beat those that you are in the same niche. It will give you upper hand to gain more jobs.

It will even help you to sell goods at affordable rate and your rate must be better than other people's rate so that people will buy from you and you will sell very fast.

 

[Syldan]

There are alot of impotence which can not be over emphasize actually and it depends on how you conduct it based on purpose.

It helps you to know the weak point of you counterparts.

 

[Mayorla]

I think the importance of conducting research on competitive price is quite simple and straightforward, Conducting research would help you know where to set your price and also why.

 

[Danny4cash]

Some people underrate the value of pricing. One of my boss told me that pricing play key role in business success. There are some freelancers that under price their services. Some overprice their service and some moderately price their own. Those who underprice their service will generally no attract good client because people will be thinking they are not good enough. Those who overprice will have nobody to look their side because they are service is too expensive. But those who moderately price their services, will have a lot of client looking for them.

 

[Laurentta]

It is important to conduct research on competitive prices because it helps one notice patterns and trends in the prices of one's rivals. Doing so can help one place one's product at an advantage in relation to the market.

 

[Syldan]

Well research helped you to know the strength and weakness of your competitors, better of on the best strategy to which you can be able to achieved your goals in business.

 

[Chibson]

properly researching on competitive prices is always important if you are a business person. This is because it will give you an upper hand in a business venture and customers who prefer patronizing you.

 

[Danny4cash]

properly researching on competitive prices is always important if you are a business person. This is because it will give you an upper hand in a business venture and customers who prefer patronizing you.

Research is very important in business. It's wrong to venture into a business without properly doing a research about it. I can't can start a business or even join a website without doing a research on it.

 

[joy101]

research is very important to any business is a person when to survive in business, because it we help you to come up with a good strategy in the market,so when research is being conducted it we help you to fight your competitors.

 

[eenya001]

research is very important to any business is a person when to survive in business, because it we help you to come up with a good strategy in the market,so when research is being conducted it we help you to fight your competitors.

research is very compulsory if you intend to become a success in the online space, and it would also save you a lot of money time and resources as it enables you to make the right decision.

 

[Abasiama40]

A price analysis can help you determine where your competitors are falling short and allowing you to find week spot in your competition. This can help you identify areas of opportunity in the market place and test out marketing strategies to reach those market weak spots.

 

[Syldan]

Actually research plays a vital role in the success of every business both online and offline.

It gives you the opportunity to know, when and how to start a business of which without such knowledge, it will be very difficult to hit on track.

 

[Chibson]

Research is very important in business. It's wrong to venture into a business without properly doing a research about it. I can't can start a business or even join a website without doing a research on it.

Anybody who ventures into anything without proper research will end up making some major mistakes. of course it is very good to make research before signing up on any website online. Without that you may end up wasting your time or losing your money.