most products,it is difficult to identify a specific market price for a product or product class.Still,marketing managers often have a subjective feel for the competitors' price or market price.Using this benchmark,they then may deliberately choose a strategy of

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With a subjective feel for the competitors' price or market price, marketing managers can deliberately choose a strategy of above-market pricing (for higher-end, premium products), at-market pricing (for products that are similar to competitors), or below-market pricing (for products that are less expensive than competitors). This allows them to position their product in the market in a way that is competitive and profitable.

Most Products,it Is Difficult to Identify a Specific Market Price