freshpet is a manufacturer of fresh, all-natural dog and cat food. the company conducted a survey and found that customers considered $25.00 for its 3-lb bag of complete meals to be reasonable since the product is made in the united states from fresh, all-natural ingredients. for freshpet, $25.00 represents its targeted consumers' multiple choice underprice. competitive price. over charge. reference price. gouged price.

A competitive price is a pricing tactic used by companies to set a market value for their goods that is comparable to what their rivals are offering. In order to entice customers to buy their goods, a corporation analyzes its market rivals' similar products and chooses a pricing that is competitive.

Instead of basing prices only on business costs or goal profit margins, competitive pricing is the act of strategically choosing price points for your goods or services based on competition pricing in your market or niche.

A method known as competitive pricing involves setting a product's price in line with those of competitors. A real-world illustration is the cost of well-liked goods on Amazon.com. To provide the best deal on the market, the retail behemoth gathers competitive price intelligence.

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