{"id":16674,"date":"2022-07-22T10:00:26","date_gmt":"2022-07-22T07:00:26","guid":{"rendered":"https:\/\/iconicerp.com\/?p=16674"},"modified":"2022-07-15T15:49:08","modified_gmt":"2022-07-15T12:49:08","slug":"pricing-demystified-the-competitive-pricing-strategy","status":"publish","type":"post","link":"https:\/\/iconicerp.com\/ar\/pricing-demystified-the-competitive-pricing-strategy\/","title":{"rendered":"Pricing Demystified: The Competitive Pricing Strategy"},"content":{"rendered":"<table class=\"aligncenter\" style=\"width: 80%; border-collapse: collapse; border-style: none;\">\n<tbody>\n<tr>\n<td style=\"width: 80%;\">One of the most confusing and mystifying aspects of opening a retail store or starting to sell products online is figuring out how to price products. There\u2019s a lot to consider when it comes to pricing. Are customers willing to pay what I\u2019m asking for? Am I charging too much? Am I not charging enough? Can I afford to discount my prices? How do my prices compare to those of the competition?. Here is Pricing Demystified: The Competitive Pricing Strategy.<\/p>\n<p>We\u2019re going to fill you in on a pricing strategy that centers around that last question. A competitive pricing strategy revolves around what your direct and indirect competitors are charging for comparable products and services.<\/p>\n<p>In this guide to comparative pricing strategy, you\u2019ll learn:<\/p>\n<ul>\n<li>What a Competitive pricing strategy is<\/li>\n<li>The pros and cons of a competitive pricing strategy<\/li>\n<li>Competitive pricing examples<\/li>\n<li>How to evaluate the success of a competitive pricing strategy<\/li>\n<\/ul>\n<h2 id=\"section1\"><b>What is a Competitive Pricing Strategy?<\/b><\/h2>\n<p>When you use a competitive pricing strategy (also known as a \u201ccompetition pricing strategy\u201d) to price your products, you set prices based on how much your competition is asking for similar products, rather than on internal factors like cost of goods sold or profit margin.<\/p>\n<p>This approach doesn\u2019t always mean matching competitors\u2019 prices or selling products for less than the competition. You can price your products higher than the competition when using this pricing strategy. Here\u2019s a closer look at the three approaches to competitive pricing strategy:<\/p>\n<ul>\n<li aria-level=\"1\"><b>Set higher prices than the competition<\/b>: When you sell comparable products for more than what your competitors are asking for them, you\u2019re positioning your products as premium products. With this pricing strategy, you\u2019ll attract customers who are drawn to quality (or perceived quality) over price.<\/li>\n<li aria-level=\"1\"><b>Price match the competition<\/b>: When you sell similar or identical products for the same price as the competition, you\u2019re positioning your products and brand as equivalent to the competition. Price matching is a good strategy when you want to attract customers and keep them away from the competition. When your prices are the same as competitors\u2019 prices, it\u2019s important to differentiate yourself in other ways, such as by offering free shipping, great customer service, or convenient hours.<\/li>\n<li aria-level=\"1\"><b>Set lower prices than the competition<\/b>: Selling products for less than the competition can help you attract customers. Keep in mind, however, that you\u2019ll most likely attract price-sensitive customers. To keep them from going to the competition, you\u2019ll have to sustain low prices.<\/li>\n<\/ul>\n<p>A competitive pricing strategy is just one of many pricing approaches. Alternative strategies include:<\/p>\n<ul>\n<li aria-level=\"1\"><b>Value-based pricing<\/b>\u00a0is based on the perceived value of the product. This\u00a0<a href=\"https:\/\/hbr.org\/2016\/08\/a-quick-guide-to-value-based-pricing\">pricing tactic<\/a>\u00a0typically works better for services than for products.<\/li>\n<li aria-level=\"1\"><b>Cost-plus pricing<\/b>, also known as markup pricing, incorporates the cost of goods sold plus a markup percentage and is widespread in the retail world.<\/li>\n<li aria-level=\"1\"><b>Dynamic pricing<\/b>\u00a0involves constantly changing your prices by monitoring supply and demand. This is a popular pricing strategy for airlines.<\/li>\n<li aria-level=\"1\"><b>Price skimming<\/b>\u00a0means setting prices high initially, and gradually reducing them to increase your volume of customers.<\/li>\n<li aria-level=\"1\"><b>Economy pricing<\/b>\u00a0involves setting prices lower than the competition in hopes of attracting a high volume of customers. Generic brands of consumer packaged goods commonly use this pricing approach.<\/li>\n<li aria-level=\"1\"><b>Penetration pricing<\/b>\u00a0means setting prices low initially to attract a large customer base, creating a loyal customer base, then raising prices to become profitable. This is the pricing strategy Uber and Lyft used to create a dependence on their services.<\/li>\n<\/ul>\n<h2 id=\"section2\"><b>Pros and cons of implementing a competitive pricing strategy<\/b><\/h2>\n<p>Weigh the advantages and disadvantages of a competitive pricing strategy before implementing it as part of your\u00a0retail business plan.<\/p>\n<h3>Pros of a competitive pricing strategy<\/h3>\n<p>Using a competitive pricing strategy is\u00a0<b>simple<\/b>. Beyond doing some competitive research and deciding whether you want your prices to match, cost less, or cost more than the competition, there isn\u2019t a ton of number crunching involved with this approach.<\/p>\n<p>When your prices are lower than or equal to competitors\u2019 prices, you can\u00a0<b>attract new customers<\/b>\u00a0and steal customers away from the competition. While you may lose profit on some items, you could gain loyal customers who will continue to spend with you. In that respect, competitive pricing can act as a\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/l\/lossleader.asp\">loss leader<\/a>.<\/p>\n<p>A competitive pricing strategy can help you\u00a0<b>position your products and business relative to the competition<\/b>. For example, if your prices are much higher than competitors\u2019, then your perceived value will be higher than theirs and attract customers who look for quality instead of price. If your prices are lower, your perceived value will be lower and you\u2019ll attract customers who seek price over quality.<\/p>\n<h3>Cons of a competitive pricing strategy<\/h3>\n<p>When a competitive pricing strategy is used for price matching and to offer prices lower than that of the competition, you can end up in a <b>race to the bottom<\/b>\u00a0in which both you and your competitors reduce prices to beat each other. Ultimately, you may not be profitable and your business could go under.<\/p>\n<p>This take on a competitive pricing strategy also tends to <b>attract price-sensitive customers<\/b>. You\u2019ll have to work harder to gain the loyalty of this audience, as they tend to shop wherever they can get the best deal.<\/p>\n<p>Finally, if you only base prices on the competition and not on your company\u2019s finances (such as what it costs to manufacture or buy the products in question), your business may not be profitable enough to operate long term.<\/p>\n<h2 id=\"section3\"><b><a href=\"https:\/\/iconicerp.com\/wp-content\/uploads\/2022\/07\/pricing-strategy1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-16679 size-full\" src=\"https:\/\/iconicerp.com\/wp-content\/uploads\/2022\/07\/pricing-strategy1.jpg\" alt=\"Pricing Demystified: The Competitive Pricing Strategy\" width=\"1000\" height=\"700\" srcset=\"https:\/\/iconicerp.com\/wp-content\/uploads\/2022\/07\/pricing-strategy1.jpg 1000w, https:\/\/iconicerp.com\/wp-content\/uploads\/2022\/07\/pricing-strategy1-430x301.jpg 430w, https:\/\/iconicerp.com\/wp-content\/uploads\/2022\/07\/pricing-strategy1-150x105.jpg 150w, https:\/\/iconicerp.com\/wp-content\/uploads\/2022\/07\/pricing-strategy1-700x490.jpg 700w, https:\/\/iconicerp.com\/wp-content\/uploads\/2022\/07\/pricing-strategy1-300x210.jpg 300w, https:\/\/iconicerp.com\/wp-content\/uploads\/2022\/07\/pricing-strategy1-768x538.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a>Examples of competitive pricing<\/b><\/h2>\n<p>Here are several real-world competitive pricing examples to help you better understand this approach.<\/p>\n<h3>Example of higher competitive pricing: Lululemon<\/h3>\n<p>Before\u00a0<a href=\"https:\/\/shop.lululemon.com\/\">Lululemon<\/a>\u00a0penetrated the market, it was difficult to imagine anyone but a professional athlete willing to spend more than $100 on a pair of leggings. By charging much, much more for its workout apparel than the competition, Lululemon elevated gym clothes from something people only wore to the gym to a stylish status symbol. Lululemon used a competitive pricing strategy to pioneer athleisure and become the go-to for premium workout and lifestyle apparel.<\/p>\n<h3>Example of equal competitive pricing: Best Buy<\/h3>\n<p>From Amazon to big box stores and independent electronics stores, Best Buy has a lot of competition. By offering a\u00a0<a href=\"https:\/\/www.bestbuy.com\/site\/customer-service\/price-match-guarantee\/pcmcat290300050002.c?id=pcmcat290300050002\">Price Match Guarantee<\/a>, Best Buy reduces its prices to match competitors\u2019 prices if they offer a better deal on an identical item. This price match policy applies to both online and in-store purchases. By doing so, Best Buy can keep loyal customers from taking their business to the competition.<\/p>\n<h3>Example of lower competitive pricing: Quince<\/h3>\n<p><a href=\"https:\/\/www.onequince.com\/\">Quince<\/a> is an e-commerce retailer that sells \u201chigh-quality essentials\u201d for \u201cradically low prices.\u201d The brand\u2019s marketing strategy is centered around the fact that it cuts out the middleman and charges less than the competition for luxury products such as leather bags, fine jewelry, and silk bedding.<\/p>\n<p>Quince has positioned itself as the attainable source for the finer things in life. One of the ways it does this is by placing its prices next to \u201ctraditional retail\u201d prices on its product pages to make you feel like you\u2019re getting a good deal. For example, Quince charges $149 for a genuine leather jacket. On the jacket\u2019s product page, you can see competitors\u2019 prices: $489 at AllSaints, $895 at Maje, and $995 at Rag &amp; Bone.<\/p>\n<h2 id=\"section4\"><b>How to evaluate the success of a competitive pricing strategy<\/b><\/h2>\n<p>As with anything else in business, it\u2019s important to evaluate how well a competitive pricing strategy is working for you. Point-of-sale (POS) system reports can give you insights in real-time. Monitor these key performance indicators through your <a href=\"https:\/\/iconicerp.com\/ar\/\" target=\"_blank\" rel=\"noopener\">retail POS<\/a>\u00a0on a regular basis:<\/p>\n<ul>\n<li>\n<ul>\n<li aria-level=\"1\"><b>Sales volume<\/b>: How does competitive pricing affect sales? Has lowering prices made more people buy products? Are your sales growing month over month, year over year? If yes, a competitive pricing strategy may be working for you.<\/li>\n<li aria-level=\"1\"><b>Profit margins<\/b>: Even if you\u2019re not basing prices on profit margins, you should still keep an eye on them to make sure your business can stay afloat. First, look at profit margins for individual products. Then, inspect your business\u2019 overall profit margins. If you\u2019re using a loss leader strategy, it\u2019s okay to not earn a profit on certain products as long as your business is profitable on the whole.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Customer lifetime value<\/b>: If you\u2019re lowering prices to beat the competition, you could be attracting cost-sensitive customers who are only looking to get a good deal and who won\u2019t return to your store if someone offers them a better price. Customer lifetime value can help you determine customer loyalty and understand if a competitive pricing strategy is working for or against your business.<\/li>\n<\/ul>\n<h2>Wrapping up: Competitive pricing strategy demystified<\/h2>\n<p>Figuring out how much to charge for products is one of the biggest challenges retailers face. There are so many factors to consider: what competitors are asking for, what customers are willing to pay, what kind of a profit you can earn\u2026 the list goes on and on.<\/p>\n<p>A competitive pricing strategy is one approach that involves setting prices based on the competition. You can choose to charge more, less, or the same for similar or equivalent items to attract a certain kind of clientele. No matter how you determine your prices, it\u2019s important to evaluate your strategy\u2019s success.<\/p>\n<p>Rely on smart and updated\u00a0<a href=\"https:\/\/iconicerp.com\/ar\/\" target=\"_blank\" rel=\"noreferrer noopener\">restaurant POS software<\/a>\u00a0and the right people to manage your business operations smoothly while you prepare for the next steps of your business.<\/p>\n<p>Don\u2019t forget to follow us on\u00a0<a href=\"https:\/\/www.instagram.com\/iconicerp\/\" target=\"_blank\" rel=\"noreferrer noopener\">Instagram<\/a>\u00a0for more restaurant trends and updates!<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: center;\">{randomimage}wp-content\/uploads\/banners,100%,auto,Random image,https:\/\/iconicerp.com\/apply-for-trial\/{\/randomimage}<\/p>","protected":false},"excerpt":{"rendered":"<p>One of the most confusing and mystifying aspects of opening a retail store or starting to sell products online is figuring out how to price products. There\u2019s a lot to consider when it comes to pricing. Are customers willing to pay what I\u2019m asking for? Am I charging too much? Am I not charging enough? Can I afford to discount my prices?<\/p>","protected":false},"author":1,"featured_media":16680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"_joinchat":[],"footnotes":""},"categories":[315],"tags":[249,295,296,238,247,246,217,233,182,221,243,297,225,298,299,229,245,239,300,240,237,226,251,301,253,254,302,223,241,242,227,218,181,255,256,303,228,258,304,305,306,259,260,219,230,250,244,307,232,308,248,220,236,257,222,309,234,231,235,224,310,311,252,312],"class_list":["post-16674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retail-stores","tag-aliphia","tag-best-pos-system-for-restaurant","tag-busy-clover","tag-clover","tag-daftra","tag-dexef","tag-epos","tag-epos-now","tag-erp","tag-erp-software","tag-foodics","tag-free-inventory-software","tag-ginesys-in","tag-gofrugal","tag-hdpos-smart","tag-helcim","tag-investopedia","tag-it-retail","tag-it-retail-jio-gst","tag-korona","tag-lavu","tag-lightspeed","tag-loyverse","tag-marg-retail-pos","tag-matgry","tag-medaderp","tag-mrl-posnet","tag-mybillbook-in","tag-odoo","tag-oracle","tag-paycafe","tag-point-of-sale","tag-pos","tag-pos-meaning","tag-pos-system","tag-posist","tag-quickbooks","tag-restaurant","tag-restaurant-pos-software","tag-restaurant-pos-system","tag-restaurant-software","tag-restaurants-near-me","tag-restaurants-nearby","tag-retail-software","tag-revel","tag-rewaatech","tag-sap","tag-saral-pos","tag-shopify","tag-shopkeep","tag-smacc","tag-software","tag-square","tag-square-pos","tag-tally","tag-tally-shoper-9","tag-toast","tag-touchbistro","tag-upserve","tag-vend","tag-vend-pos","tag-whatsapp","tag-zoho","tag-zopper"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pricing Demystified: The Competitive Pricing Strategy - IconicERP Cloud<\/title>\n<meta name=\"description\" content=\"One of the most confusing and mystifying aspects of opening a retail store or starting to sell products online is figuring out how to price products. There\u2019s a lot to consider when it comes to pricing. Are customers willing to pay what I\u2019m asking for? Am I charging too much? Am I not charging enough? Can I afford to discount my prices? How do my prices compare to those of the competition?. Here is Pricing Demystified: The Competitive Pricing Strategy.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/iconicerp.com\/ar\/pricing-demystified-the-competitive-pricing-strategy\/\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pricing Demystified: The Competitive Pricing Strategy - IconicERP Cloud\" \/>\n<meta property=\"og:description\" content=\"One of the most confusing and mystifying aspects of opening a retail store or starting to sell products online is figuring out how to price products. There\u2019s a lot to consider when it comes to pricing. Are customers willing to pay what I\u2019m asking for? Am I charging too much? Am I not charging enough? Can I afford to discount my prices? How do my prices compare to those of the competition?. Here is Pricing Demystified: The Competitive Pricing Strategy.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/iconicerp.com\/ar\/pricing-demystified-the-competitive-pricing-strategy\/\" \/>\n<meta property=\"og:site_name\" content=\"IconicERP Cloud\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/iconicerp\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-22T07:00:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/iconicerp.com\/wp-content\/uploads\/2022\/07\/Screen-Shot-2016-07-06-at-10.10.35-AM-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"700\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u0643\u064f\u062a\u0628 \u0628\u0648\u0627\u0633\u0637\u0629\" \/>\n\t<meta name=\"twitter:data1\" content=\"Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u0648\u0642\u062a \u0627\u0644\u0642\u0631\u0627\u0621\u0629 \u0627\u0644\u0645\u064f\u0642\u062f\u0651\u0631\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 \u062f\u0642\u0627\u0626\u0642\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/iconicerp.com\\\/pricing-demystified-the-competitive-pricing-strategy\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/iconicerp.com\\\/pricing-demystified-the-competitive-pricing-strategy\\\/\"},\"author\":{\"name\":\"Admin\",\"@id\":\"https:\\\/\\\/iconicerp.com\\\/#\\\/schema\\\/person\\\/5b596ebb95f1cabdc308f0a0ffa624c9\"},\"headline\":\"Pricing Demystified: The Competitive Pricing Strategy\",\"datePublished\":\"2022-07-22T07:00:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/iconicerp.com\\\/pricing-demystified-the-competitive-pricing-strategy\\\/\"},\"wordCount\":1619,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/iconicerp.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/iconicerp.com\\\/pricing-demystified-the-competitive-pricing-strategy\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/iconicerp.com\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/Screen-Shot-2016-07-06-at-10.10.35-AM-1.jpg\",\"keywords\":[\"aliphia\",\"best pos system for restaurant\",\"Busy Clover\",\"Clover\",\"daftra\",\"dexef\",\"epos\",\"Epos Now\",\"erp\",\"erp software\",\"foodics\",\"free inventory software\",\"ginesys.in\",\"GoFrugal\",\"HDPOS Smart\",\"Helcim\",\"Investopedia\",\"IT Retail\",\"IT Retail Jio GST\",\"KORONA\",\"Lavu\",\"lightspeed\",\"loyverse\",\"Marg Retail POS\",\"matgry\",\"medaderp\",\"MRL Posnet\",\"mybillbook.in\",\"odoo\",\"oracle\",\"PayCafe\",\"point of sale\",\"pos\",\"pos meaning\",\"pos system\",\"POSist\",\"Quickbooks\",\"restaurant\",\"restaurant pos software\",\"restaurant pos system\",\"restaurant software\",\"restaurants near me\",\"restaurants nearby\",\"retail software\",\"Revel\",\"rewaatech\",\"sap\",\"Saral POS\",\"Shopify\",\"ShopKeep\",\"smacc\",\"software\",\"Square\",\"square pos\",\"tally\",\"Tally Shoper 9\",\"Toast\",\"TouchBistro\",\"Upserve\",\"Vend\",\"Vend POS\",\"whatsapp\",\"zoho\",\"Zopper\"],\"articleSection\":[\"Retail Stores\"],\"inLanguage\":\"ar\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/iconicerp.com\\\/pricing-demystified-the-competitive-pricing-strategy\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/iconicerp.com\\\/pricing-demystified-the-competitive-pricing-strategy\\\/\",\"url\":\"https:\\\/\\\/iconicerp.com\\\/pricing-demystified-the-competitive-pricing-strategy\\\/\",\"name\":\"Pricing Demystified: The Competitive Pricing Strategy - IconicERP Cloud\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/iconicerp.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/iconicerp.com\\\/pricing-demystified-the-competitive-pricing-strategy\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/iconicerp.com\\\/pricing-demystified-the-competitive-pricing-strategy\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/iconicerp.com\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/Screen-Shot-2016-07-06-at-10.10.35-AM-1.jpg\",\"datePublished\":\"2022-07-22T07:00:26+00:00\",\"description\":\"One of the most confusing and mystifying aspects of opening a retail store or starting to sell products online is figuring out how to price products. There\u2019s a lot to consider when it comes to pricing. Are customers willing to pay what I\u2019m asking for? Am I charging too much? Am I not charging enough? Can I afford to discount my prices? How do my prices compare to those of the competition?. Here is Pricing Demystified: The Competitive Pricing Strategy.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/iconicerp.com\\\/pricing-demystified-the-competitive-pricing-strategy\\\/#breadcrumb\"},\"inLanguage\":\"ar\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/iconicerp.com\\\/pricing-demystified-the-competitive-pricing-strategy\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"ar\",\"@id\":\"https:\\\/\\\/iconicerp.com\\\/pricing-demystified-the-competitive-pricing-strategy\\\/#primaryimage\",\"url\":\"https:\\\/\\\/iconicerp.com\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/Screen-Shot-2016-07-06-at-10.10.35-AM-1.jpg\",\"contentUrl\":\"https:\\\/\\\/iconicerp.com\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/Screen-Shot-2016-07-06-at-10.10.35-AM-1.jpg\",\"width\":1000,\"height\":700},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/iconicerp.com\\\/pricing-demystified-the-competitive-pricing-strategy\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/iconicerp.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Pricing Demystified: The Competitive Pricing Strategy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/iconicerp.com\\\/#website\",\"url\":\"https:\\\/\\\/iconicerp.com\\\/\",\"name\":\"IconicERP Cloud\",\"description\":\"Work Smarter Not Harder\",\"publisher\":{\"@id\":\"https:\\\/\\\/iconicerp.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/iconicerp.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"ar\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/iconicerp.com\\\/#organization\",\"name\":\"iconicERP Cloud\",\"url\":\"https:\\\/\\\/iconicerp.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"ar\",\"@id\":\"https:\\\/\\\/iconicerp.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/iconicerp.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/IconicERP-10.png\",\"contentUrl\":\"https:\\\/\\\/iconicerp.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/IconicERP-10.png\",\"width\":2341,\"height\":467,\"caption\":\"iconicERP Cloud\"},\"image\":{\"@id\":\"https:\\\/\\\/iconicerp.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/iconicerp\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/iconicerp.com\\\/#\\\/schema\\\/person\\\/5b596ebb95f1cabdc308f0a0ffa624c9\",\"name\":\"Admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"ar\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/05e29cf357d3846c1e585a97190c48204c16d8f6e0c7836ccd27e3db35a7eca5?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/05e29cf357d3846c1e585a97190c48204c16d8f6e0c7836ccd27e3db35a7eca5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/05e29cf357d3846c1e585a97190c48204c16d8f6e0c7836ccd27e3db35a7eca5?s=96&d=mm&r=g\",\"caption\":\"Admin\"},\"sameAs\":[\"https:\\\/\\\/iconicerp.com\"],\"url\":\"https:\\\/\\\/iconicerp.com\\\/ar\\\/author\\\/sabbagh\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Pricing Demystified: The Competitive Pricing Strategy - IconicERP Cloud","description":"One of the most confusing and mystifying aspects of opening a retail store or starting to sell products online is figuring out how to price products. There\u2019s a lot to consider when it comes to pricing. Are customers willing to pay what I\u2019m asking for? Am I charging too much? Am I not charging enough? Can I afford to discount my prices? How do my prices compare to those of the competition?. Here is Pricing Demystified: The Competitive Pricing Strategy.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/iconicerp.com\/ar\/pricing-demystified-the-competitive-pricing-strategy\/","og_locale":"ar_AR","og_type":"article","og_title":"Pricing Demystified: The Competitive Pricing Strategy - IconicERP Cloud","og_description":"One of the most confusing and mystifying aspects of opening a retail store or starting to sell products online is figuring out how to price products. There\u2019s a lot to consider when it comes to pricing. Are customers willing to pay what I\u2019m asking for? Am I charging too much? Am I not charging enough? Can I afford to discount my prices? How do my prices compare to those of the competition?. Here is Pricing Demystified: The Competitive Pricing Strategy.","og_url":"https:\/\/iconicerp.com\/ar\/pricing-demystified-the-competitive-pricing-strategy\/","og_site_name":"IconicERP Cloud","article_publisher":"https:\/\/www.facebook.com\/iconicerp","article_published_time":"2022-07-22T07:00:26+00:00","og_image":[{"width":1000,"height":700,"url":"https:\/\/iconicerp.com\/wp-content\/uploads\/2022\/07\/Screen-Shot-2016-07-06-at-10.10.35-AM-1.jpg","type":"image\/jpeg"}],"author":"Admin","twitter_card":"summary_large_image","twitter_misc":{"\u0643\u064f\u062a\u0628 \u0628\u0648\u0627\u0633\u0637\u0629":"Admin","\u0648\u0642\u062a \u0627\u0644\u0642\u0631\u0627\u0621\u0629 \u0627\u0644\u0645\u064f\u0642\u062f\u0651\u0631":"8 \u062f\u0642\u0627\u0626\u0642"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/iconicerp.com\/pricing-demystified-the-competitive-pricing-strategy\/#article","isPartOf":{"@id":"https:\/\/iconicerp.com\/pricing-demystified-the-competitive-pricing-strategy\/"},"author":{"name":"Admin","@id":"https:\/\/iconicerp.com\/#\/schema\/person\/5b596ebb95f1cabdc308f0a0ffa624c9"},"headline":"Pricing Demystified: The Competitive Pricing Strategy","datePublished":"2022-07-22T07:00:26+00:00","mainEntityOfPage":{"@id":"https:\/\/iconicerp.com\/pricing-demystified-the-competitive-pricing-strategy\/"},"wordCount":1619,"commentCount":0,"publisher":{"@id":"https:\/\/iconicerp.com\/#organization"},"image":{"@id":"https:\/\/iconicerp.com\/pricing-demystified-the-competitive-pricing-strategy\/#primaryimage"},"thumbnailUrl":"https:\/\/iconicerp.com\/wp-content\/uploads\/2022\/07\/Screen-Shot-2016-07-06-at-10.10.35-AM-1.jpg","keywords":["aliphia","best pos system for restaurant","Busy Clover","Clover","daftra","dexef","epos","Epos Now","erp","erp software","foodics","free inventory software","ginesys.in","GoFrugal","HDPOS Smart","Helcim","Investopedia","IT Retail","IT Retail Jio GST","KORONA","Lavu","lightspeed","loyverse","Marg Retail POS","matgry","medaderp","MRL Posnet","mybillbook.in","odoo","oracle","PayCafe","point of sale","pos","pos meaning","pos system","POSist","Quickbooks","restaurant","restaurant pos software","restaurant pos system","restaurant software","restaurants near me","restaurants nearby","retail software","Revel","rewaatech","sap","Saral POS","Shopify","ShopKeep","smacc","software","Square","square pos","tally","Tally Shoper 9","Toast","TouchBistro","Upserve","Vend","Vend POS","whatsapp","zoho","Zopper"],"articleSection":["Retail Stores"],"inLanguage":"ar","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/iconicerp.com\/pricing-demystified-the-competitive-pricing-strategy\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/iconicerp.com\/pricing-demystified-the-competitive-pricing-strategy\/","url":"https:\/\/iconicerp.com\/pricing-demystified-the-competitive-pricing-strategy\/","name":"Pricing Demystified: The Competitive Pricing Strategy - IconicERP Cloud","isPartOf":{"@id":"https:\/\/iconicerp.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/iconicerp.com\/pricing-demystified-the-competitive-pricing-strategy\/#primaryimage"},"image":{"@id":"https:\/\/iconicerp.com\/pricing-demystified-the-competitive-pricing-strategy\/#primaryimage"},"thumbnailUrl":"https:\/\/iconicerp.com\/wp-content\/uploads\/2022\/07\/Screen-Shot-2016-07-06-at-10.10.35-AM-1.jpg","datePublished":"2022-07-22T07:00:26+00:00","description":"One of the most confusing and mystifying aspects of opening a retail store or starting to sell products online is figuring out how to price products. There\u2019s a lot to consider when it comes to pricing. Are customers willing to pay what I\u2019m asking for? Am I charging too much? Am I not charging enough? Can I afford to discount my prices? How do my prices compare to those of the competition?. Here is Pricing Demystified: The Competitive Pricing Strategy.","breadcrumb":{"@id":"https:\/\/iconicerp.com\/pricing-demystified-the-competitive-pricing-strategy\/#breadcrumb"},"inLanguage":"ar","potentialAction":[{"@type":"ReadAction","target":["https:\/\/iconicerp.com\/pricing-demystified-the-competitive-pricing-strategy\/"]}]},{"@type":"ImageObject","inLanguage":"ar","@id":"https:\/\/iconicerp.com\/pricing-demystified-the-competitive-pricing-strategy\/#primaryimage","url":"https:\/\/iconicerp.com\/wp-content\/uploads\/2022\/07\/Screen-Shot-2016-07-06-at-10.10.35-AM-1.jpg","contentUrl":"https:\/\/iconicerp.com\/wp-content\/uploads\/2022\/07\/Screen-Shot-2016-07-06-at-10.10.35-AM-1.jpg","width":1000,"height":700},{"@type":"BreadcrumbList","@id":"https:\/\/iconicerp.com\/pricing-demystified-the-competitive-pricing-strategy\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/iconicerp.com\/"},{"@type":"ListItem","position":2,"name":"Pricing Demystified: The Competitive Pricing Strategy"}]},{"@type":"WebSite","@id":"https:\/\/iconicerp.com\/#website","url":"https:\/\/iconicerp.com\/","name":"IconicERP Cloud","description":"Work Smarter Not Harder","publisher":{"@id":"https:\/\/iconicerp.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/iconicerp.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"ar"},{"@type":"Organization","@id":"https:\/\/iconicerp.com\/#organization","name":"iconicERP Cloud","url":"https:\/\/iconicerp.com\/","logo":{"@type":"ImageObject","inLanguage":"ar","@id":"https:\/\/iconicerp.com\/#\/schema\/logo\/image\/","url":"https:\/\/iconicerp.com\/wp-content\/uploads\/2021\/06\/IconicERP-10.png","contentUrl":"https:\/\/iconicerp.com\/wp-content\/uploads\/2021\/06\/IconicERP-10.png","width":2341,"height":467,"caption":"iconicERP Cloud"},"image":{"@id":"https:\/\/iconicerp.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/iconicerp"]},{"@type":"Person","@id":"https:\/\/iconicerp.com\/#\/schema\/person\/5b596ebb95f1cabdc308f0a0ffa624c9","name":"Admin","image":{"@type":"ImageObject","inLanguage":"ar","@id":"https:\/\/secure.gravatar.com\/avatar\/05e29cf357d3846c1e585a97190c48204c16d8f6e0c7836ccd27e3db35a7eca5?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/05e29cf357d3846c1e585a97190c48204c16d8f6e0c7836ccd27e3db35a7eca5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/05e29cf357d3846c1e585a97190c48204c16d8f6e0c7836ccd27e3db35a7eca5?s=96&d=mm&r=g","caption":"Admin"},"sameAs":["https:\/\/iconicerp.com"],"url":"https:\/\/iconicerp.com\/ar\/author\/sabbagh\/"}]}},"jetpack_featured_media_url":"https:\/\/iconicerp.com\/wp-content\/uploads\/2022\/07\/Screen-Shot-2016-07-06-at-10.10.35-AM-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/iconicerp.com\/ar\/wp-json\/wp\/v2\/posts\/16674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iconicerp.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iconicerp.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iconicerp.com\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/iconicerp.com\/ar\/wp-json\/wp\/v2\/comments?post=16674"}],"version-history":[{"count":4,"href":"https:\/\/iconicerp.com\/ar\/wp-json\/wp\/v2\/posts\/16674\/revisions"}],"predecessor-version":[{"id":17090,"href":"https:\/\/iconicerp.com\/ar\/wp-json\/wp\/v2\/posts\/16674\/revisions\/17090"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/iconicerp.com\/ar\/wp-json\/wp\/v2\/media\/16680"}],"wp:attachment":[{"href":"https:\/\/iconicerp.com\/ar\/wp-json\/wp\/v2\/media?parent=16674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iconicerp.com\/ar\/wp-json\/wp\/v2\/categories?post=16674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iconicerp.com\/ar\/wp-json\/wp\/v2\/tags?post=16674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}