Analysis of Price Strategies and Product Innovations on Competitive Advantages of Local Products Palu Fifiyanti, Putri Kirei Hana, Cintany Salsabila, Sri Wanti
Fakultas Ekonomi dan Bisnis, Universitas Tadulako
Abstract
This study aims to analyze the influence of product price strategies and innovation on competitive advantage in batik businesses in Palu City. In increasingly stringent batik industry competition, the application of the right strategy is very important for the sustainability of the business. The price strategy includes competitive pricing by maintaining product quality, while product innovation includes the development of new motives, the use of environmentally friendly raw materials, and modern technology adoption in production. This study uses a qualitative approach with interview and observation methods on a number of batik business actors in the city of Palu, the data obtained also comes from several literature reviews. The results showed that competitive price strategies and sustainable product innovation significantly contributed to the increase in competitive advantage of batik business. Business actors who are able to adjust prices with consumer purchasing power and continue to innovate on the product, successfully increase the appeal of the market and maintain consumer loyalty. Therefore, the combination of price strategies and product innovations has proven effective in strengthening the position of batik business in the midst of increasingly intensive competition.
