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'''Price analysis''' |
'''Price analysis''' is the study of how a price relates to other things such as product demand. Its specific meaning varies in contexts such as [[marketing]] and general [[business]]. |
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== Marketing == |
== Marketing == |
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In [[marketing]], price analysis refers to the analysis of [[consumer]] response to theoretical prices in survey research. |
In [[marketing]], price analysis refers to the analysis of [[consumer]] response to theoretical prices assessed in survey research. |
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== Business == |
== Business == |
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In general [[business]], price analysis is the process of |
In general [[business]], price analysis is the process of evaluating a proposed price independent of cost and profit.<ref>Federal Acquisition Regulation [http://farsite.hill.af.mil/reghtml/regs/far2afmcfars/fardfars/far/15.htm#P443_80965 15.404-1(b) - Proposal Analysis Techniques], accessed 22 January 2019</ref><ref>FAA {{cite web |url=http://fast.faa.gov/archive/v799/pricing/98-30-C5.htm |title=16. Price Analysis |accessdate=2011-08-31 |url-status=dead |archiveurl=https://web.archive.org/web/20110930081610/http://fast.faa.gov/archive/v799/pricing/98-30-C5.htm |archivedate=2011-09-30 }}</ref> Price analysis began in 1939 when economist Andrew Court decided to analyze prices to better understand the environmental factors that influence this practice.<ref>{{Cite journal|last=Goodman|first=Allen C|date=1998-09-01|title=Andrew Court and the Invention of Hedonic Price Analysis|journal=Journal of Urban Economics|volume=44|issue=2|pages=291–298|doi=10.1006/juec.1997.2071|s2cid=154205079|issn=0094-1190|url=https://pdfs.semanticscholar.org/4dcb/5567cc9c9c51ad2e2b48a4e2c491dc245ec6.pdf|archive-url=https://web.archive.org/web/20200212104448/https://pdfs.semanticscholar.org/4dcb/5567cc9c9c51ad2e2b48a4e2c491dc245ec6.pdf|url-status=dead|archive-date=2020-02-12}}</ref> Price analysis is dependent on the characteristics of the marketing system in place within a certain country.<ref>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.</ref> In developing countries researchers use it to help better understand data.<ref>{{Cite book|url=https://gala.gre.ac.uk/id/eprint/11912/|title=Applying price analysis to marketing systems: Methods and examples from the Indonesian rice market|last=Trotter|first=B. W.|date=1992|publisher=Natural Resources Institute|isbn=978-0-85954-315-6|volume=3|location=Chatham, UK|language=en}}</ref> |
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== Other == |
== Other == |
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The term may refer to converting a price to a unit price, e.g., per unit of area. |
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The term 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 (finance)|valuation]] problem. |
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==References== |
==References== |
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{{Reflist}} |
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==External links== |
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*{{Commonscatinline|Price analysis |
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[[Category:Marketing research]] |
[[Category:Marketing research]] |
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[[Category:Business terms]] |
[[Category:Business terms]] |
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[[Category:Pricing]] |
[[Category:Pricing]] |
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{{marketing-stub}} |
{{marketing-stub}} |
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Latest revision as of 12:54, 2 December 2024
 | This article needs additional citations for verification. (November 2022) |
Price analysis is the study of how a price relates to other things such as product demand. Its specific meaning varies in contexts such as marketing and general business.
Marketing
[edit]In marketing, price analysis refers to the analysis of consumer response to theoretical prices assessed in survey research.
Business
[edit]In general business, price analysis is the process of evaluating a proposed price independent of cost and profit.[1][2] Price analysis began in 1939 when economist Andrew Court decided to analyze prices to better understand the environmental factors that influence this practice.[3] Price analysis is dependent on the characteristics of the marketing system in place within a certain country.[4] In developing countries researchers use it to help better understand data.[5]
Other
[edit]The term may refer to converting a price to a unit price, e.g., per unit of area.
References
[edit]- ^ Federal Acquisition Regulation 15.404-1(b) - Proposal Analysis Techniques, accessed 22 January 2019
- ^ FAA "16. Price Analysis". 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. S2CID 154205079. Archived from the original (PDF) on 2020-02-12.
- ^ 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. Vol. 3. Chatham, UK: Natural Resources Institute. ISBN 978-0-85954-315-6.
External links
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