ENTREPRENEURSHIP

Detailed explanation-1: -A complex pricing model is a pricing strategy that considers multiple factors to determine the price of a product or service. These models are often used in industries where many variables affect the price of the goods or services offered.

Detailed explanation-2: -In service businesses it is often difficult to establish, for cost purposes, what a “unit” of service is, let alone to calculate its cost. Particular difficulties occur with highly intangible services where people are the chief element of cost.

Detailed explanation-3: -Some of the major factors influencing pricing decisions of a company are as follows: A company’s price level sends signals about the quality of its products to the customer. A customer always compares the company’s prices with those of its competitors. The competitors also keep an eye on the price levels of a company.