Question

Why can't we compare competitor prices dollar for dollar in a service context?

Answer 1

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Answer 2

We cannot compare competitor prices dollar for dollar in a service context since it is dependent on the market at a specific time period and at different places

Explanation:

• The prices of the competitors and the various products in the market cannot be compared in regards to each penny. There are different elements and factors that are involved in setting the prices of products by the competitors.
• The prices of the products that are set by the competitors depends on the location and time period of selling the products.   There are various costs which are attached to the product and all of those costs are taken into account for setting the price of commodities
• The pricing of the competitors cannot be compared since it depends to the kind of product in various segment and the benefit that the customers get from it which cannot be compared.

To know more about comparing competitor pricing

How nestle has low bargaining power of suppliers compared to its competitor?

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