Analyse one reason why a business might use competitive pricing and not a cost-based pricing method for an existing product.

Question

Analyse one reason why a business might use competitive pricing and not a cost-based pricing method for an existing product.

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Solution 1

Sure, here is a step-by-step analysis of why a business might use competitive pricing instead of cost-based pricing for an existing product:

Understanding the Market: The first step is to understand that competitive pricing is a strategy where prices are set based on the prices of the competitio Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.

Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
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