As a pricing analysis consulting firm in UAE, Saudi Arabia, GCC and the MENA countries we understand pricing analysis as a process of evaluating your current pricing strategy against market demand. Generally, pricing analysis examines price independently of cost. The goal of a pricing analysis is to identify opportunities for pricing changes and improvements.
Typically, you conduct/ seek pricing analysis services when considering new product ideas, developing your positioning strategy, or running marketing tests. It’s also wise to run a price analysis once every year or two to evaluate your pricing against competitors and consumer expectations — doing so preemptively avoids having to wait for poor product performance. While availing our services we ensure that our client also gets their competitive analysis which examines the entire value proposition of their competitor’s products helping them understand whether or not they’re actually competing on price alone.
We look at their competitor’s marketing strategies, sales brochures and gain insights on whether they’re competing on price for the same product, or is there something else in the value proposition that impacts how they price products and services?
Knowledge of this before setting their own price helps clients set prices based on a level playing field. Seeing our clients succeeding and thriving is what drives us every day.