Product price analysis is a tool that is used to probe into the price behavior of a certain product and understand pricing policies used in determining the market value of the product. The analysis takes into task all the factors that plays a key role in influencing the asking price of the product, the history of the price value of the product, the price demanded by its competitors and thereby, gives its final verdict on the assessment.
Sample Product Price Analysis
Product Price Analysis
Name of the product: Writewell Pen
Manufactured by: Refill Stationaries Company
Product Description: Writewell pen was first introduced to the market in the year 1999. The product has been an instant hit among the students and professionals owing to its superior quality features and intelligent pricing. When launched, the product was assigned a no non-sense professional outlook that greatly attracted the entrepreneurs. It was then given a funkier outlook for attracting students. Today, writewell pens are available in a wide variety of styles and colors all over the nation.
Price History: the product when introduced was ascribed a price of 2$. The price has seen a steep rise with its increasing popularity in the stationary world. Today the product attracts a price of 6$ in the market.
Factors influencing product price:
- Manufacturing price
- Investment required in marketing
- Demand of the product
Price quoted by competitors: the product faces stiff competition from Smart Pens and Nice Pen Private Limited. However the product has an edge over them owing to its affordable rate.