A more competitive approach would be pricing based on competition. Especially if it’s a highly competitive niche or a weak market. When there’s a seasonal decline or the market is just weak, you need to monitor your competitors and position your price so it’s neither the highest nor the lowest, but somewhere in the middle. At the very start of launching a product, it might even be worth lowering the price so it’s on the cheaper side giving the product a chance to climb higher in the rankings.
Yes, that is a strategy that can attract consumers with a lowered price at the beginning will make interested parties think about the situation of the goods that they think they can afford to have, and other goods will also compete in the market equally in terms of price. Of course, that is the main thing in advancing a business in winning market competition and that is what is aimed at for product progress in the future, perhaps the achievement so that it is more optimal.