Market-Oriented Pricing Examples
- Your comeptitors are selling a product for $250, you sell it for $250
- A new company launches a product, they take the top 3 prices of competitor products and average them
Deeper Insights Into Market-Oriented Pricing
Also known as a competition-based strategy, market-oriented pricing compares similar products being offered on the market. Then, the seller sets the price higher or lower than their competitors depending on how well their own product matches up.
Many companies that launch a product into a specific market will price their products around prices of other products currently released. Although this kind of pricing may work for some companies, it isn't optimized and could be improved.