BUISENESS MANAGEMENT
MARKETING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
where the product will be sold
|
|
|
How much people will to pay for the product
|
|
|
how the business tells people about the product
|
|
|
None of the above
|
Detailed explanation-1: -Price: refers to the value that is put for a product. It depends on costs of production, segment targeted, ability of the market to pay, supply-demand and a host of other direct and indirect factors. There can be several types of pricing strategies, each tied in with an overall business plan.
Detailed explanation-2: -Definition: Price is the value that is put to a product or service and is the result of a complex set of calculations, research and understanding and risk taking ability. A pricing strategy takes into account segments, ability to pay, market conditions, competitor actions, trade margins and input costs, amongst others.
Detailed explanation-3: -The net price is the value at which a product or service is sold after all taxes and other costs are added and all discounts subtracted. Net price is what a customer pays.
Detailed explanation-4: -At its most basic, a price is the amount of money that a buyer gives to a seller in exchange for a good or a service.