Responding to Competitor’s Price Change Ankeita Mall S.G.S.I.T.S.
How should a company respond to competitor's price change?
Aug 16, 2015
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Responding to Competitor’s Price Change
Ankeita MallS.G.S.I.T.S.
How should a company respond to a competitor’s price change?
Things to be kept in mind before responding
1
2. Competitor’s Intentions and Resources
3. Market’s Price and Quality Sensitivity
4. Behavior of cost with volume
Responding to a Low Cost Competitor
Further Differentiate the Products and Services
Introduce Low Cost Products
Increase Price and Quality
Reinvent your Product
RECAP• Things to be kept in mind before responding1. Product life cycle2. Analyzing Competitor’s intentions and resources3. Market’s Price and Quality Sensitivity4. Cost with Volume Behavior
• Ways to Respond to low Price Competitor1. Further differentiate products2. Introduce low cost products3. Increase price and quality4. Reinvent your product
Created by ANKEITA MALL, S.G.S.I.T.S. , during an internship by Prof. Sameer Mathur, IIM Lucknow. www.IIMInternship.com
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