Obtaining your competitor’s price list is crucial in other to fight your competitors. By obtaining that price list, you get to under price some of your best products and services to attract consumers to come to you and buy more as they shop around. There are many ways to obtain your competitor’s list in order to effectively fight off the competition.
One way to obtain your competitor’s price list is to make one by going to their store and record all the prices that they are using for their products and services. This is by far the most time consuming because you have to record all the prices and be sneaky so you wouldn’t be kicked out. Also, the prices might not be up to date so you have to go in and out every few weeks to check out the new prices which are very time consuming.
Another way to obtain your competitor’s price is to employ someone already working in that company to divulge their price list for a price. You get the latest price list almost instantly whenever your competitor updates it. Hiring that insider to be your spy is expensive and requires connections, but the results are amazing for obtaining your competitor’s latest price list in hours after they revamp their prices. With a spy, you can strategically price your products and services lower than the competitor before they can implement their new pricing plan. This is a great and fast way (with a price) to obtain your competitor’s price list.
Obtaining your competitor’s price list is a good way to fight the competition. With money being tight as the economy is going down, lowering your prices is an effective way to gain more market share and wipe out the competition if you have the resources to do so. Research your competitor’s pricing to effectively fight your competitors.
5 Comments
The spy is the obvious choice - who knows what else they could get for you!
depends on the spy I guess!
“Another way to obtain your competitor’s price is to employ someone already working in that company to divulge their price list for a price. You get the latest price list almost instantly whenever your competitor updates it.”
Tread carefully here. If that spy were to divulge anything other than publicly available information, in the US at least the spy and you could be subject to civil and criminal penalties for violation of Trade Secrets laws — both at the federal and state levels. Even divulging that price list a day before it’s released could run afoul of the law.
If the spy is also under a non-disclosure agreement with their company, it can get even trickier.
Before doing this, I’d suggest consulting an attorney to clarify what you can and cannot do in your jurisdiction.
Cromely- Thanks for adding that. Best to be careful in every possible situation so consulting with an attorney is crucial in order to not break the law. Thanks for your input Cromely! Really appreciate it!
an acceptable under handed tactic