Pricing as the determinant of future, acceptability and profitability of products

Pricing is the process whereby a business sets the price at which it sells its products and services and may be part of the business marketing plan. It is also an act of fixing the value that a manufacturer will receive in exchange for services and goods. The pricing method is exercised to adjust the cost of the producer's offering suitable to both the manufacturers and customers. It can also be defined as the process of determining an accurate price of products. It is about the setting price of goods and services of business enterprises and influencing their overall demand to a great extent. It is an integral part of a product that needs to be considered wisely by every organization in addition to its quality. A product with...