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

In marketing, price analysis refers to the analysis of consumer response to theoretical prices assessed in survey research.

Business

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

The term may refer to converting a price to a unit price, e.g., per unit of area.

References

  1. ↑ Federal Acquisition Regulation 15.404-1(b) - Proposal Analysis Techniques, accessed 22 January 2019
  2. ↑ FAA "16. Price Analysis". Archived from the original on 2011-09-30. Retrieved 2011-08-31.
  3. ↑ 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.
  4. ↑ 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.
  5. ↑ 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.


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