Pros

Increased Sales Volume:

Lower prices often attract more customers, which can result in higher sales volume.

Market Share:

Competitive pricing can help you gain a larger share of the market, potentially establishing your brand as a go-to choice.

Customer Attraction:

Price-sensitive customers are more likely to choose your product or service over competitors.

Cash Flow:

A higher number of sales can lead to better cash flow, which can be useful for covering operating expenses and investments.

Cons

Slim Margins:

Competitive pricing typically leads to lower profit margins per sale, which may affect your overall profitability.

Resource Demands:

Dealing with a larger customer base may require more resources, including customer support and infrastructure.

Sustainability:

Depending solely on low prices can be challenging in the long term, as it may not cover all your costs or provide sufficient profit for growth.