Pricedifference,Pricedifferencereferstothedifferenceinpricesforthesameorsimilarproductsbetweendifferentstores,regionsormarkets。Itistheamountofmoneybywhichthepriceofthesameorsimilarproductvariesindifferentenvironments。Explanation,Pricedifferenceisameasureofhowmuchthepricesofthesameitemsdifferfromonemarkettoanother。Itisusuallyusedtocomparethepricesofsimilargoodsofferedbydifferentsellersand/ordifferentlocations。Itisalsousedtomeasurethedegreeofcompetitioninaparticularmarket。Expansion,Thefactorsthataffectpricedifferencesincludesupplyanddemand,costofproduction,location,marketingstrategies,governmentregulations,competition,andlocalcustoms。Understandingthesefactorscanhelpbusinessesidentifyopportunitiesforgrowthandwillalsoenablethemtosetcompetitivepricesfortheirproducts。