In industries like on-demand services, success often hinges on the ability to understand and outpace competitors, directly influencing customer expectations for quality and pricing.
Mastering competitive pricing requires a dynamism that isn't just about undercutting your competitors, but involves a nuanced strategy to capture customer loyalty.
Companies must utilize competitive intelligence to determine which products can afford to serve as loss leaders, allowing them to strategically gain market share without compromising long-term profitability.
The stakes for ride-hailing companies are high; surge pricing strategies need a careful balance to avoid alienating customers or drivers, especially for key services like airport rides.
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