It appears to be a common practice. A business owner figures out the price of labor and materials adds an “upcharge” and VOILA – they have the price for their product or service. It is equally common for them to know that their competitor sells the product for $25 a pound and they meet that …
Your business is doing good enough. You make enough money to pay your bills and provide for what your family needs. You are floating along, enjoying this reward when you learn a competitor is lowering prices. You are numb because this means they will take business away from you and now your bills may …
You’ve seen it many times. A business owner sees a competitor lower their price on a product or service and they then decide to lower theirs to the same or slightly lower price. Little thought is given to what exactly has occurred beyond, “I have to meet or better the prices my competitors charge.” In …
