The Chinese market becomes increasingly more saturated and competitive with foreign brands. While some companies see great success such as Foreo Luna and Gucci, other brands have suffered and been forced to close operations.
Having a sound knowledge of local competition and a suitable pricing strategy is one of the most important parts of a market entry strategy and crucial for future success to maximize sales.
In this article, I cover a wide range of topics and explain how you can perform a competitor price analysis in China.
- What is competitor cost analysis?
- How do I find out what my competitors are charging?
- Calculating your unit cost
What is competitor price analysis?
Competitor price analysis is an essential part of a company’s market entry strategy and can ultimately determine whether you will succeed in a new market or not.
It helps you understand how much other companies charge for their products online and/or offline. From a strategic point of view, the analysis can help to better understand the entry barriers in a market. Continue reading China Competitor Price Analysis