Competitive price for a product is a range of values within which the cost of the product will be the most attractive for customers and the most likely to result in a purchase under current market conditions and competition. This value is within the competitive price corridor. The corridor may be different for different product segments. For example, it could be:
- The median price and values between -10% and +10% of it;
- The median price and values in the range from -5% to +5% of it;
- The minimum price +5-10% from it.
Also, it is necessary to allocate such a metric as optimum price: the price which will bring the seller the maximum profit.