Should I Base My Prices on the Competition

Send us a textPricing versus the competition may seem like the best and sometimes easiest thing to do in some businesses. In other businesses, where there's less price transparency, it may feel like you're missing out on a key piece of price setting information because you have no idea what the competition charges.Of course the competition is an important pricing consideration for many but what does it mean for your business? Can you only know what price to offer when you know the competition?It begs the question, should I based my prices on the competition? In this episode, we break this down and talk about when and how to use the competition when it comes to price setting in your business.Podcast Highlights  - 0:00 Introductions  - 1:23 What's Your Strategy?  - 3:08 Small business specificities  - 4:59 Rules of Thumb  - 7:24 When not to   - 8:50 How to use it  - 10:11 Wrapping it up *****Hi I'm Janene, Let’s Take the Next Step TogetherPricing can feel confusing or overwhelming — and that’s completely normal. I’m here to help you gain clarity and confidence.If you’re ready for personalized support and real solutions, book a call and let’s talk about your unique pricing challenges.https://thepricinglady.com/book-a-call/Not quite ready? Visit my Resources page to explore guides and tools that meet you where you are — including the friendly Pricing Scorecard to help you uncover opportunities without any pressure.https://thepricinglady.com/resources/No matter where you are in your pricing journey, the next right step is waiting for you.Mentioned in this episode:The Pricing Lady is a proud member of the SwissCast NetworkDiscover more great podcasts for English-speaking SwitzerlandSwissCast Network