If You’re Starting A New Business Here’s How to Effectively Analyze Your Competition
Startup Codex

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Here is one painful truth:

Your opinion of what a fair price is irrelevant.

This is especially true if you are an entrepreneur in a new environment since your idea of fairness can detach from reality. Your customers are the ones to decide if your price is fair or not. They will do it after comparing you with the competition. Therefore, anticipate it and do a pricing comparison yourself, during the competitive analysis.