Answer to Question #266326 in Finance for Jabs

Question #266326

EXPLAIN how the product pricing (fee) is determined and DISCUSS the importance of determining the correct fee


1
Expert's answer
2021-11-15T10:16:20-0500

What is product pricing?

Product pricing refers to the process of translating the product value into quantitative terms.


Importance of product pricing


Product pricing offers flexibility which helps to adjust the value of the product when necessary.


Product pricing is also essential in sales and marketing as it creates the first impression on a customer.


By pricing a product, a business can assign a value that ensures competitive advantage.


The raw materials used in making a product are accounted by a -product is assigned a price. Therefore, the price is expected to account for the raw materials.



Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

Jabs
15.11.21, 17:26

thank you very much,it means a lot to me and keep up the good work

Leave a comment

Ask Your question

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS