• Home
  • Tools dropdown img
    • Spreadsheet Charts

      • ChartExpo for Google Sheets
      • ChartExpo for Microsoft Excel
    • Power BI Charts

      • Power BI Custom Visuals by ChartExpo
    • Word Cloud

  • Charts dropdown img
    • Chart Category

      • Bar Charts
      • Circle Graphs
      • Column Charts
      • Combo Charts
      • Comparison Charts
      • Line Graphs
      • PPC Charts
      • Sentiment Analysis Charts
      • Survey Charts
    • Chart Type

      • Box and Whisker Plot
      • Clustered Bar Chart
      • Clustered Column Chart
      • Comparison Bar Chart
      • Control Chart
      • CSAT Survey Bar Chart
      • CSAT Survey Chart
      • Dot Plot Chart
      • Double Bar Graph
      • Funnel Chart
      • Gauge Chart
      • Likert Scale Chart
      • Matrix Chart
      • Multi Axis Line Chart
      • Overlapping Bar Chart
      • Pareto Chart
      • Radar Chart
      • Radial Bar Chart
      • Sankey Diagram
      • Scatter Plot Chart
      • Slope Chart
      • Sunburst Chart
      • Tornado Chart
      • Waterfall Chart
      • Word Cloud
    • Google Sheets
      Microsoft Excel
  • Services
  • Pricing
  • Contact us
  • Blog
  • Support dropdown img
      • Gallery
      • Videos
      • Contact us
      • FAQs
      • Resources
    • Please feel free to contact us

      atsupport@chartexpo.com

Categories
All Data Visualizations Data Analytics Surveys
Add-ons/
  • Google Sheets
  • Microsoft Excel
  • Power BI
All Data Visualizations Data Analytics Surveys
Add-ons
  • Google Sheets
  • Microsoft Excel
  • Power BI

We use cookies

This website uses cookies to provide better user experience and user's session management.
By continuing visiting this website you consent the use of these cookies.

Ok

ChartExpo Survey



Home > Blog > Data Analytics

Competitors Price Analysis Demystified: A Strategic Blueprint

Competition is fierce. Customers are savvy. To win their loyalty, you need to know what others are offering. Competitors’ price analysis is the compass that guides you – it reveals the pricing strategies of your rivals.

Competitors Price Analysis

Price is a key driver for customer decisions. Analyzing competitor prices lets you set your prices intelligently. Are you charging too much? Are you undervaluing your products? This analysis provides answers.

Moreover, it unveils market trends. Are prices trending up or down? Are there pricing outliers? This information is invaluable for adapting your strategy.

Knowing how competitors price their offerings can guide product development, marketing, and sales strategies. It empowers you to make informed decisions, fine-tune your pricing, and seize opportunities.

Ignorance is not bliss in this fast-paced business landscape; it’s perilous. Competitors price analysis is the lens through which you gain clarity, adjust your course, and outmaneuver your rivals.

Let’s explore why and how it works.

Table of Content:

  1. What is Competitors Price Analysis?
  2. Why is Competitor Pricing Analysis Important?
  3. What Should Be Include in a Competitive Pricing Analysis?
  4. Competitors Price Analysis Examples
  5. How to Conduct Competitor Pricing Analysis in Excel?
    • Step #1: Arrange Competitor Products Prices
    • Step #2: Install ChartExpo in Excel
    • Step #3: Select Chart For Competitor Price Comparison
    • Step #4: Create a Chart For Competitor Price Analysis
    • Step #5: Customize Chart For Competitor Price Analysis
    • Step #6: Final Competitor Price Analysis 
  6. How to Use the Coefficient Competitor Price Analysis Template?
  7. Benefits of  Using Competitor Pricing Analysis Template 
  8. Implementing a Competitive Pricing Strategy
  9. Challenges For Competitor Price Monitoring 
  10. Best Practices For Collecting Competitor Pricing Data 
  11. Competitors Price Analysis – FAQs
  12. Wrap Up

What is Competitors Price Analysis?

Definition: Competitors Price Analysis is the process of evaluating and comparing the pricing strategies of rival businesses in the market. It involves collecting data on competitors’ product prices, discounts, and promotional offers to identify trends, optimize pricing strategies, and maintain a competitive edge. This analysis helps businesses set competitive prices, improve profitability, and respond effectively to market changes.

Why is Competitor Pricing Analysis Important?

Competitor Pricing Analysis is crucial for businesses to stay competitive and maximize profitability. Here’s why it matters:

  1. Optimizes Pricing Strategy – Helps businesses set prices that attract customers while maintaining profitability.
  2. Identifies Market Trends – Provides insights into pricing patterns, demand shifts, and industry benchmarks.
  3. Enhances Competitive Advantage – Allows businesses to adjust pricing dynamically to outperform competitors.
  4. Improves Profit Margins – Helps find the right balance between affordability and profitability.
  5. Inform Promotional Strategies – Assists in designing discounts and offers that match or surpass competitors’ deals.

What Should Be Include in a Competitive Pricing Analysis?

1. Competitor Identification

Identify direct and indirect competitors in your industry. Focus on businesses that offer similar products or services and target the same customer segments. Understanding who your competitors are is the first step in analyzing their pricing strategies effectively.

2. Product Comparison

Compare the features, quality, and value of your products against competitors. Identify key differentiators, such as unique features, better materials, or additional services that justify your pricing strategy.

3. Pricing Structure

Analyze how competitors price their products. Consider base prices, tiered pricing models, subscription plans, and bundling strategies. Understanding how competitors structure their pricing can help you refine your own approach.

4. Promotions & Discounts

Evaluate competitor promotions, seasonal discounts, loyalty programs, and special offers. This helps in determining how often competitors adjust their prices and how you can position your own discounts strategically.

5. Market Demand & Trends

Assess the demand for products in your industry and track pricing trends. Understanding how market conditions influence pricing can help you anticipate changes and adjust accordingly.

6. Customer Perception & Reviews

Analyze customer feedback and reviews related to competitor pricing. Understanding how customers perceive the value of a competitor’s product can help you adjust your pricing strategy to meet market expectations.

7. Price Positioning Strategy

Determine where your pricing stands in comparison to competitors—whether it’s premium, mid-range, or budget-friendly. Align your pricing with your brand positioning and target audience expectations.

Competitors Price Analysis Examples

1. E-commerce Industry (Amazon vs. Walmart)

Amazon and Walmart constantly analyze each other’s pricing strategies to stay competitive. If Walmart lowers the price of a popular electronic gadget, Amazon may use automated pricing tools to match or beat that price. This ensures they attract price-sensitive customers while maintaining market dominance.

2. Airline Industry (Delta vs. American Airlines)

Airlines use dynamic pricing strategies based on competitor fares. If American Airlines drops ticket prices on a popular route, Delta might adjust its pricing in real time to remain competitive. They also consider factors like seat availability, demand, and time until departure.

3. SaaS Industry (Zoom vs. Microsoft Teams)

Zoom and Microsoft Teams analyze each other’s subscription pricing and feature offerings. If Microsoft Teams introduces a lower-cost plan with additional features, Zoom may respond by offering discounts, bundled packages, or free trials to retain and attract customers.

How to Conduct Competitor Pricing Analysis in Excel?

Excel has been the go-to for data analysis since the dawn of the digital age. However, when it comes to data visualization, it sometimes feels like Excel’s artistic talents peaked in the ’90s.

Fear not; ChartExpo is here to elevate your competitors’ price analysis game. Say goodbye to bland bar charts and uninspiring pie graphs. ChartExpo will turn those numbers into visual masterpieces that’ll make your competitors do a double-take.

Benefits of Using ChartExpo

  • Say goodbye to data analysis and presentation struggles. ChartExpo offers a smorgasbord of visualizations, ensuring you find the perfect fit for your data.
  • Navigating ChartExpo is a breeze with its user-friendly interface. You’ll craft insightful charts effortlessly. And here’s the kicker no coding chops are required.
  • Want to add a touch of personal flair? ChartExpo’s got your back. Customize your data visualizations easily, playing with colors, fonts, and styles. Your data will look so good it won’t believe its eyes.
  • Now, about your hard-earned cash ChartExpo respects it. Enjoy a free 7-day trial to get a taste of its magic. And if you’re hooked, it’s just $10 per month for visualizations worth their weight in gold.

How to Install ChartExpo in Excel?

  1. Open your Excel application.
  2. Open the worksheet and click the “Insert” menu.
  3. You’ll see the “My Apps” option.
  4. In the office Add-ins window, click “Store” and search for ChartExpo on my Apps Store.
  5. Click the “Add” button to install ChartExpo in your Excel.

ChartExpo charts are available both in Google Sheets and Microsoft Excel. Please use the following CTA’s to install the tool of your choice and create beautiful visualizations in a few clicks in your favorite tool.

Step #1: Arrange Competitor Products Prices

Let’s say you have the data below about the prices of different products for 3 competitors. You want to conduct a competitor’s price analysis to gain insights about the market.

Products Alcatel Price ($) Xiaomi Price ($) Asus Price ($)
Smartphone                         800 850                         780
Laptop                      1,200 1100                      1,250
Tablet 175 342                        275
Smart TV                         600 620                         590

Let me show you how to use ChartExpo to create visualizations to make this analysis a breeze.

Step #2: Install ChartExpo in Excel

insert chartexpo in excel
  • Choose ChartExpo from My Apps, then click Insert.
open chartexpo in excel

Step #3: Select Chart For Competitor Price Comparison

search radar chart in excel

Step #4: Create a Chart For Competitor Price Analysis

Create Chart From Selection ce445
  • ChartExpo will generate the visualization below for you.
Competitors Price Analysis Design Template

Step #5: Customize Chart For Competitor Price Analysis

apply title on chart ce445

Step #6: Final Competitor Price Analysis

Final Competitors Price Analysis

Insights

  • Xiaomi smartphones, smart TVs, and tablets are relatively expensive.
  • In comparison, Asus laptops are typically priced higher than Xiaomi laptops.

How to Use the Coefficient Competitor Price Analysis Template?

1. Identify Competitors

List your direct and indirect competitors offering similar products or services. Include their brand name, market positioning, and target audience.

2. Gather Pricing Data

Collect data on competitor pricing, including base prices, discounts, bundles, and subscription plans. Use web scraping tools, market research reports, or manual tracking.

3. Analyze Price Differences

Compare your prices with competitors to identify gaps, trends, and opportunities. Determine whether your pricing is higher, lower, or aligned with the market.

4. Evaluate Value Proposition

Assess what additional features, benefits, or customer service competitors offer at their price points. Identify areas where you can add value or justify a premium price.

5. Adjust Pricing Strategy

Based on your analysis, decide whether to lower prices, offer promotions, introduce new pricing tiers, or maintain current pricing with added value.

6. Monitor and Update Regularly

Competitor pricing changes frequently, so update your template regularly to stay competitive. Use automation tools to track price fluctuations and adjust accordingly.

Benefits of  Using Competitor Pricing Analysis Template

Want to know why we use competitor’s price analysis? It’s fun and helps you stay ahead in the cutthroat business world.

How?

  • Informed Pricing Decisions

Competitors’ price analysis facilitates informed pricing decision-making. Understanding how competitors price their products or services, as well as conducting a cost of living comparison by city, helps with strategic price setting. Consequently, this ensures you remain competitive and appealing to customers

  • Maintaining Competitiveness

In today’s competitive landscape, staying ahead or at least on par with rivals is crucial. Competitors’ pricing comparison allows you to adjust your pricing strategies in real time to maintain competitiveness.

  • Maximizing Profitability

Effective pricing analysis helps maximize profitability. Evaluating competitor pricing and profit margins helps to identify opportunities to optimize your pricing structure for higher profits.

  • Identifying Market Trends

Analyzing competitors’ pricing trends provides insights into the broader market trends. It helps you adapt to consumer behavior, demands, and preferences changes.

  • Value Perception

It’s not just about price; it’s about how customers perceive value. Competitors’ price analysis helps understand whether your product is considered a premium, budget, or mid-range option. This shapes customer perception and influences buying decisions.

  • Response to Competitive Moves

Monitoring competitor pricing enables you to respond quickly to changes made by rivals. Let’s say a competitor lowers their prices. This analysis can help you decide whether to match, undercut, or maintain your current pricing strategy.

  • Market Positioning

Examining competitors’ positions in the market can help refine your positioning strategy. It helps identify gaps or opportunities in the market that you can leverage for growth.

  • Promotion and Discount Strategies

Understanding competitors’ promotional and discount strategies allows you to fine-tune your marketing efforts. It helps in designing promotions that attract customers while maintaining profitability.

  • Market Entry or Expansion

Competitive analysis, including competitor pricing analysis, is essential when entering a new market or expanding into new segments. It provides valuable insights into the pricing norms and competitive landscape, aiding in effective market entry strategies.

  • Customer Expectations

Customer expectations often revolve around pricing. Aligning with or differentiating from competitors’ pricing can help you meet or exceed customer expectations. Consequently, this enhances customer satisfaction and loyalty.

  • Risk Management

Keeping an eye on competitor pricing helps in risk management. It lets you anticipate potential pricing wars or aggressive competitive moves, enabling proactive risk mitigation strategies.

Implementing a Competitive Pricing Strategy

1. Analyze Competitor Pricing

Research competitor prices, discounts, and promotions to understand market trends and positioning. This helps in identifying pricing gaps and opportunities to stay competitive.

2. Define Your Pricing Goals

Set clear objectives, whether it’s maximizing profit, increasing market share, or offering premium value. Your pricing strategy should align with your overall business goals.

3. Choose a Pricing Strategy

Decide whether to match, undercut, or price higher based on your value proposition and market demand. Consider factors like cost structure, brand positioning, and customer expectations.

4. Use Dynamic Pricing Tools

Automate pricing adjustments based on competitor changes, customer behavior, and seasonal trends. This ensures your prices remain competitive in real-time.

5. Continuously Monitor and Adjust

Regularly review pricing performance and refine your strategy to stay competitive and profitable. Market conditions change, so ongoing analysis is key to long-term success.

Challenges For Competitor Price Monitoring

1. Frequent Price Fluctuations

Competitor prices change rapidly due to promotions, seasonal discounts, and market demand shifts, making it challenging to track accurate pricing in real-time.

2. Data Collection Complexity

Gathering pricing data from multiple competitors across different platforms requires automation tools, web scraping, or manual tracking, which can be time-consuming and costly.

3. Dynamic Pricing Strategies

Many businesses use AI-driven dynamic pricing, which adjusts prices based on demand, competitor activity, and customer behavior, making price monitoring more complex.

4. Incomplete or Inaccurate Data

Some websites restrict pricing information or use personalized pricing models, leading to gaps in data that can affect analysis and decision-making.

5. Competitor Response & Market Changes

Competitors may react unpredictably to pricing changes, and external factors like inflation, supply chain disruptions, or economic shifts can impact pricing strategies.

Best Practices For Collecting Competitor Pricing Data

1. Use Automated Price Tracking Tools

Leverage web scraping tools, AI-driven pricing software, or APIs to collect competitor pricing data in real time, reducing manual effort and errors.

2. Monitor Multiple Channels

Track competitor prices across different platforms, including websites, e-commerce stores, social media, and third-party marketplaces, to get a comprehensive view.

3. Schedule Regular Data Updates

Set a frequency for data collection, whether daily, weekly, or in real time, to ensure you have the most up-to-date competitor pricing information.

4. Verify Data Accuracy

Cross-check collected pricing data with official competitor websites or customer feedback to eliminate errors and inconsistencies in the analysis.

5. Analyze Trends, Not Just Prices

Look beyond pricing alone—analyze competitor discounts, promotions, and bundling strategies to understand their overall pricing approach.

Competitors Price Analysis – FAQs

What is a competitor’s pricing strategy?

A competitor’s pricing strategy involves setting prices for products or services. It encompasses decisions on whether to price higher, lower, or match competitors. The aim is to gain a competitive edge, maximize profits, or attract specific customer segments.

What are three competitive pricing strategies?

  1. Penetration Pricing: Setting a low initial price to gain market share and attract price-sensitive customers quickly.
  2. Premium Pricing: Charging higher prices to position a product or service as superior in quality or unique in the market.
  3. Price Matching: Adjusting prices to match competitors’ offerings.

What is an example of competitors pricing?

Let’s say two smartphone manufacturers, A and B, offer similar models with comparable features. Manufacturer B sets a slightly lower price for their phone to compete. Conversely, manufacturer A entices customers looking for a better deal while maintaining product quality.

Wrap Up

Competitors’ price analysis is not just an option; it’s a necessity in the cutthroat world of business. It serves as a guiding compass, steering companies toward success. By delving into this crucial tool, we uncover a multitude of reasons why it’s indispensable.

First, competitors’ price analysis empowers you to make informed pricing decisions. In a market where every dollar counts, this knowledge is gold. It ensures your pricing strategy remains competitive and appealing to your target audience.

Moreover, pricing isn’t just about revenue but optimizing profits. Competitors’ price analysis helps identify opportunities to fine-tune pricing structures. Consequently, it ensures every sale is a step closer to the bottom line.

Furthermore, it provides a window into market trends, helping you adapt and evolve. In a world where change is the only constant, staying attuned to market dynamics is a competitive advantage.

So, why do we use competitors’ price analysis?

Because, quite simply, it’s the key to sustainable success.

And with ChartExpo, analyzing your competitor’s pricing data is a breeze.

How much did you enjoy this article?

PBIAd1
Start Free Trial!
129848

Related articles

next previous
Data Analytics29 min read

Variance Analysis Isn’t a Math Problem, It’s a Trust Problem

Variance analysis helps identify what went wrong, who owns it, and what to do next. Use it to drive decisions, not just reports. Learn more!

Data Analytics10 min read

Supplier Comparison Template: Download It Now

A supplier comparison template streamlines vendor evaluation by comparing cost and quality. Click here to learn its benefits and how to analyze them.

Data Analytics32 min read

Ecommerce Analytics: How to Fix What It Often Gets Wrong

Ecommerce analytics often lead to mixed signals and costly misreads. Fix attribution gaps, align teams, and act on the right data. Get started now!

Data Analytics30 min read

When Sales Funnel Breaks: Failures, Fixes, & Funnel Debt

Is your sales funnel hiding costly gaps? Learn how pipeline stalls, false metrics, and handoff chaos could be draining revenue. Get started now!

Data Analytics9 min read

Procurement Key Performance Indicators for Quick Insights

Procurement Key Performance Indicators track costs, efficiency, and supplier reliability. Learn to use these KPIs effectively, their importance, and examples.

ChartExpo logo

Turn Data into Visual
Stories

CHARTEXPO

  • Home
  • Gallery
  • Videos
  • Services
  • Pricing
  • Contact us
  • FAQs
  • Privacy policy
  • Terms of Service
  • Sitemap

TOOLS

  • ChartExpo for Google Sheets
  • ChartExpo for Microsoft Excel
  • Power BI Custom Visuals by ChartExpo
  • Word Cloud

CATEGORIES

  • Bar Charts
  • Circle Graphs
  • Column Charts
  • Combo Charts
  • Comparison Charts
  • Line Graphs
  • PPC Charts
  • Sentiment Analysis Charts
  • Survey Charts

TOP CHARTS

  • Sankey Diagram
  • Likert Scale Chart
  • Comparison Bar Chart
  • Pareto Chart
  • Funnel Chart
  • Gauge Chart
  • Radar Chart
  • Radial Bar Chart
  • Sunburst Chart
  • see more
  • Scatter Plot Chart
  • CSAT Survey Bar Chart
  • CSAT Survey Chart
  • Dot Plot Chart
  • Double Bar Graph
  • Matrix Chart
  • Multi Axis Line Chart
  • Overlapping Bar Chart
  • Control Chart
  • Slope Chart
  • Clustered Bar Chart
  • Clustered Column Chart
  • Box and Whisker Plot
  • Tornado Chart
  • Waterfall Chart
  • Word Cloud
  • see less

RESOURCES

  • Blog
  • Resources
  • YouTube
SIGN UP FOR UPDATES

We wouldn't dream of spamming you or selling your info.

© 2025 ChartExpo, all rights reserved.