Price band analysis enables one to take a keen link on the pricing policies and marketing strategies of a particular product and chart the course of its price elasticity. It also involves brand analysis and allows one to examine brand performance and monitor the ways in which pricing recommendations are implemented by the various stores in a given time frame.
Sample Price Band Analysis
Price Band Analysis Report Submitted by: Gilman Analyzers
Date of Submission of Report: 05.03.2012
Product concerned: Floral Skirts
Manufactured By: Stylesmart Garments
Product description: the floral skirts belong to the spring collection of Stylesmart Garments. These are lovely flowing skirts in floral prints and vibrant hues. The skirts are available in various shapes, sizes, lengths and designs.
Price Band Recommended: 16$ – 35$
Factors influencing fluctuation of prices:
- Location: the location of the store and the quality of life lived by the people there plays a major role in resulting in the rise or fall of prices.
- Season: seasonal changes also have a great impact in the product price. Summer or spring time tilts the price band to the higher end while winter tilts the scale on the other side.
- Demand Curve: the demand supply ratio is another factor involved in determining the current market value of the product.
- Economic Condition of the Age: the financial condition of the times also influences price movements in the band. Recession hit times or times of crises or depression dictate a lowering of the prices while prosperous times demand price hike.
Brand Performance: Style smart Garments have carved a niche in the fashion industry as a reliable brand that designs realistic clothes and sells them in reasonable prices.