What is Price Analysis?

Legal Definition
In marketing, Price Analysis refers to the analysis of consumer response to theoretical prices in survey research.

In general business, Price Analysis is the process of examining and evaluating a proposed price without evaluating its separate cost elements and proposed profit/fee.

Price analysis may also refer to the breakdown of a price to a unit figure. Usually per square metre or square foot of accommodation or per hectare or even square metre of land. The price with suitable adjustment for various differences, is then applied to the valuation problem.
-- Wikipedia
Legal Definition
The process of evaluating bids based on (1) comparison of the quotes, (2) Comparison of quotes across different time periods, (3) Comparison with the estimates of its own costs and (4) the utilization of standard procedures.