What is a common source of competitors' pricing information?

The response highlighting that comparative shoppers are a common source of competitors' pricing information is accurate because comparative shoppers systematically analyze prices and features across various retailers and brands. They provide valuable insights into how competitors position their products and what prices they set, making it easier for businesses to adjust their own strategies accordingly.

Comparative shopping often involves visiting multiple stores or online platforms to gather pricing data, allowing firms to benchmark their offerings against those of their competitors. This practice helps businesses understand market trends and price elasticity, ultimately enabling more informed pricing strategies.

While market surveys can yield useful information about consumer preferences and general market conditions, they don’t typically focus specifically on competitor pricing. Customer feedback primarily captures consumer experiences and satisfaction rather than direct pricing comparisons. Advertising analysis can provide insights into messaging and brand positioning but does not always accurately reflect actual pricing. Therefore, comparative shoppers stand out as a direct and practical source for gathering current pricing information from competitors.