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 What’s Next?Let’s TalkLooking for pricing support or interested in a partnership? Start here.Connect on LinkedInConnect with me on LinkedIn for practical pricing insights, new episodes, and behind-the-scenes updates.Why Pricing Feels So HardCurious why pricing feels so difficult? Explore the decisions behind confident pricing. Mentioned in this episode:The Pricing Lady is a proud member of the SwissCast NetworkDiscover more great podcasts for English-speaking SwitzerlandSwissCast Network