Competitive pricing is the basis of a firm's strategy to compete with its rivals. Most firms use this strategy to lower their production costs, allowing them to benefit from economies of scale and experience curves. Ultimately, these lower production costs translate to higher profits. This strategy is based on the notion that price is the most important factor in determining a firm's profitability, read this article to understand what are the advantages and disadvantages for competitive pricing and if it’s really necessary for your business and click here for more information.
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