Galway Maths Grinds conducted an online survey on 30/8/2015 to check how we compare with the competition on this item. Compare our price of €10 (reserved for clients of Galway Maths Grinds) with the others. The results for the price of the calculator, with and without shipping charges, in the table below, were returned by price comparison site pricespy.ie.
In addition results from sites of suppliers not showing up on this table yielded the following information before any shipping charges are added.
easonschoolbooks.com €11.99 10% off using the promo code SIMPLE
schoolbooksdirect.ie €13.49 €15.29 if you want it in pink.
Price dispersion is a number that describes how wide the prices of various products are spread. A high number means a wide spread, while a low number means little price dispersion. (For those interested in statistics it is the standard deviation of the price of the product we estimate.)
A high spread may indicate a well-functioning competitive position, although it also can be the result of a company exploiting its dominant position in the market, and deliberately putting themselves at a very low price level. A small spread, on the other hand, can be an indication of a deteriorating competitive position, perhaps even caused by illegal means like a cartel or price fixing. It may also be due to intense competition and low margins, which lead to similar pricing models, or that most companies simply opted to follow the recommended retail price.
The price dispersion information cannot alone reveal the underlying cause, but along with other information it becomes a useful tool, or simply interesting information worth noting.
You will note that some of the Office supply sites are more than twice as expensive as Galway Maths Grinds. I can only guess as to why this is the case. I think it is because their clients are not as cost conscious. Employees of businesses buy from them because it is convenient if they already do business with them for other items. And when it is not coming out of your own pocket you might not go to as much trouble to get the best deal.
If you come across a cheaper price anywhere, please let me know, so that I can pass it on to our students.