Price Analysis Essay Example | Topics and Well Written Essays - 250 words

Price Analysis - Essay ExampleHowever, among the various methods, a consumer should choose the unity that suits the important facts of his purchases. If I would be allowed to select only one price analysis method throughout the course of my career, I would select the price competition method for price analysisPrice opposition is the to the highest degree popular and the widest used technique of price analysis. It is very handy and easy to conduct. Also, it does not take in much in depth research. All a consumer needs to do is to consider the prices quoted by some(prenominal) other suppliers in the market and evaluate them closely. A price competition normally exists when prices quoted by contrastive suppliers differ by 15% (Murphy 2009).The lowest price may not always be the most reasonable price for you. There may be chances of errors in the quotation and also the quality of the slap-up or service provided may also not be up to the required level. Also, there may be costs as sociated with the product to make it a better one that may have not been incurred, and thus resulting in a lower price. Hence, when using the price competition technique, it is important that the consumer demands a program line on why the quoted price has been set by the