reduce price competition by eliminating comparisons Competing on price has long been a characteristic of commodity marketing and is now becoming increasingly common for brands. Interestingly, most businesses would rather not compete on price and research suggests that it is often unnecessary. Jeff Bezos, CEO of Amazon, suggests that the best way to avoid focusing […]

reduce price competition by eliminating comparisons Competing on price has long been a characteristic of commodity marketing and is now becoming increasingly common for brands. Interestingly, most businesses would rather not compete on price and research suggests that it is often unnecessary. Jeff Bezos, CEO of Amazon, suggests that the best way to avoid focusing on price is to understand the customer and to use that understanding to drive brand loyalty.This is the second of 5 thoughts discussing strategies that might be implemented to avoid competing on price.Consider the prices and performance capabilities of these vehicles: Holden HSV V8 Performance    0 – 100 kms in 4.4 seconds Price                     $92,900 Nissan GTR Nismo Performance    0 – 100 kms in 3.28 seconds Price                     $299,000 Lamborghini Huracan LP580 – 2 Performance    0 – 100 kms in 3.55 seconds Price                     $379,000 Porsche 911 Turbo Performance    0 –…