ENTREPRENEURSHIP

Detailed explanation-1: -Pricing is the determination of an exchange price at which the buyer and seller perceive optimum value for a good or service. The exchange price is the amount that both customers and sellers are willing to accept.

Detailed explanation-2: -Price: Capturing value-Marketers must determine the price of a product carefully on the basis of the potential buyer’s belief about its value.

Detailed explanation-3: -Pricing is important since it defines the value that makes it worth it for you to make and for your customers to use your product. It is the tangible price point that lets customers know whether it is worth their time and investment.

Detailed explanation-4: -Price of a product is determined in a free market by both demand and supply.