ENTREPRENEURSHIP

Detailed explanation-1: -Price is what a buyer pays to acquire products from a seller.

Detailed explanation-2: -A customer value pricing strategy or value-based pricing is a common method of pricing where the price of your product or service is based on customer perceptions. In other words, the price of an item reflects what the customer believes it is worth, regardless of the exact cost of production.

Detailed explanation-3: -Meaning of Pricing: Pricing is a process of fixing the value that a manufacturer will receive in the exchange of services and goods. Pricing method is exercised to adjust the cost of the producer’s offerings suitable to both the manufacturer and the customer.