MANAGEMENT

Detailed explanation-1: -Selling price can also be known as market, list, or standard price. And the following factors help organizations determine the selling price of their products: The price a buyer is willing to pay. The price a seller is willing to accept.

Detailed explanation-2: -What Does Retail Price Mean? The retail price is the price that the customers pay for the final product that is sold. These customers do not buy the product to sell it onwards. They buy the product to use it. There is a difference between a retail price, manufacturer price, and distributor price.

Detailed explanation-3: -The retail price is the price set by retailers that’s the final selling price for customers. Wholesale prices are typically much lower than retail prices, because retailers are offered a discount in exchange for agreeing to purchase a large amount of product.

Detailed explanation-4: -Competitive pricing The competitive pricing strategy sets the price of your products or services at the current market rate. Your pricing is determined by all other products in your industry, which helps you stay competitive if your business is in a saturated industry.