In marketing, Price Analysis refers to the analysis of consumer response to theoretical prices in survey research.
In general business, price analysis is the process of examining and evaluating a proposed price without evaluating its separate cost elements and proposed profit.[1][2] Price Analysis dates back to 1939 when an Economist by the name of Andrew Court decided to put his efforts towards Price Analysis to better understand the environmental factors that influence this practice.[3] Price Analysis is relevant to every market in the world. The analysis is dependent on the characteristics of the marketing system in place within a certain country. [4] In developing countries around the world researchers use this analysis to help better understand data.[5] It is most prevalent within agriculture when looked at through the lens of a researcher trying to understand more about the market examined.
Price analysis may also refer to the breakdown of a price to a unit figure, usually per square metre or square foot of accommodation or per hectare or square metre of land. The price with suitable adjustment for various differences, is then applied to the valuation problem.
References
- ^ Federal Acquisition Regulation 15.404-1(b) - Proposal Analysis Techniques, accessed 22 January 2019
- ^ FAA "Archived copy". Archived from the original on 2011-09-30. Retrieved 2011-08-31.
- ^ Goodman, Allen C (1998-09-01). "Andrew Court and the Invention of Hedonic Price Analysis" (PDF). Journal of Urban Economics. 44 (2): 291–298. doi:10.1006/juec.1997.2071. ISSN 0094-1190.
- ^ Jones, William O. "The structure of staple food marketing in Nigeria as revealed by price analysis." Food Research Institute Studies 8.1387-2016-116153 (1968): 95-123.
- ^ Trotter, B. W. (1992). Applying price analysis to marketing systems: Methods and examples from the Indonesian rice market. 3. Chatham, UK: Natural Resources Institute. ISBN 978-0-85954-315-6.