Price analysis is a term used in marketing to
describe the study of consumer responses to hypothetical pricing in survey
research. Price analysis is the process of studying and evaluating a
proposed price without investigating its individual cost aspects or expected profit
in the business world. Price analysis in real estate can also refer to the
breakdown of a price into a unit figure, such as per square meter or
square foot of living space or per hectare or square meter of land.
Pricing is a complicated topic with a lot of
variables to consider, both short- and long-term. Your price sends a
powerful statement to your market; it should be in line with your positioning,
brand, and the value you're providing. Consider what the market will
genuinely pay for your product, if your intended price reflects the value you
provide vs tour competitors, and whether it will allow you to meet tour
revenue, profit, and market share targets to ensure that your pricing strategy
supports your brand.