Price analysis is the study of how a price relates to other things such as product demand. Its specfici meaning varies in contexts such as
marketing
Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emph ...
and general
business
Business is the practice of making one's living or making money by producing or Trade, buying and selling Product (business), products (such as goods and Service (economics), services). It is also "any activity or enterprise entered into for pr ...
.
Marketing
In
marketing
Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emph ...
, price analysis refers to the analysis of
consumer
A consumer is a person or a group who intends to order, or uses purchased goods, products, or services primarily for personal, social, family, household and similar needs, who is not directly related to entrepreneurial or business activities. T ...
response to theoretical prices assessed in survey research.
Business
In general
business
Business is the practice of making one's living or making money by producing or Trade, buying and selling Product (business), products (such as goods and Service (economics), services). It is also "any activity or enterprise entered into for pr ...
, price analysis is the process of evaluating a proposed price independent of cost and profit. Price analysis began in 1939 when economist Andrew Court decided to analyze prices to better understand the environmental factors that influence this practice. Price analysis is dependent on the characteristics of the marketing system in place within a certain country. In developing countries researchers use it to help better understand data.
Other
The term may refer to converting a price to a unit price, e.g., per unit of area.
References
Marketing research
Business terms
Pricing
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