Kara Thrace operates a service business that engages in systematically collecting data on brands and prices at competitors' stores. For which stage of the price establishment process would this service be most appropriate?

Question

Madeleine Carney

Business

10 January, 12:45

Kara Thrace operates a service business that engages in systematically collecting data on brands and prices at competitors' stores. For which stage of the price establishment process would this service be most appropriate?

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Answers (1)

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Henry Landry · Answer 1

STEP-4 that is Analyzing Competitors Costs, Price and Offers is the most appropriate stage.

Explanation:

As Kara Trace would initially set up its own : -

1. Pricing Objective

2. Understanding the Demand

3. Estimating the costs

In the next step would be to understand the competitors cost and profit margins. Also to understand the pricing strategy that can be

1. Premium Pricing

2. Penetrating Pricing

3. Skimming Pricing

4. Dynamic Pricing

5. Value Based Pricing