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What Is "price" In Marketing Sales? |
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Answer» Price plays an important role in the success of a product or service. Not only is it a major DETERMINING factor for the customer while buying a product but also plays a major part in determining the IMAGE of a product in the mind of the customer. The seller has to also keep in mind the profit element while DECIDING the price of a product. Thus a balance between all the aspects has to be achieved to determine a BALANCED PRICING strategy. Price plays an important role in the success of a product or service. Not only is it a major determining factor for the customer while buying a product but also plays a major part in determining the image of a product in the mind of the customer. The seller has to also keep in mind the profit element while deciding the price of a product. Thus a balance between all the aspects has to be achieved to determine a balanced pricing strategy. |
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