Respond to a Price Change by a Competitor How do you respond when your competitor(s) lower prices? The natural reaction—to lower your prices as well—isn’t always the correct move. Before taking action, gather all of the facts.
Summary EXERCISE SUMMARY
When to Address
Who Should Participate
Where to Use the Results Why it’s Important What Builds Upon it Timeframe to Completion
When your competitors’ price changes Business leaders: company founders, owners, presidents and vice presidents Marketing and sales leaders Financial leaders Product managers Channel managers Promote any price changes through your distribution channels, your marketing materials and campaigns and your sales team.
It’s not always a clear decision to reduce your prices after a competitor does the same. Sometimes that can start a price war that will hurt profitability. Your pricing should reflect your value proposition. Roughly 30 minutes to one hour
Pricing Respond to a Price Change by a Competitor
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