The cost of a product, its utility and demand, the level of market competition, governmental and legal restrictions, pricing goals, and marketing strategies are the most significant factors that influence its price.
Price Determinants?
- Six Cost of the product determines what is produced, The cost of a product, its utility and demand, the level of market competition, governmental and legal restrictions, pricing goals, and marketing strategies are the most significant factors that influence its price.
- Cost of production, product demand, competitor prices, and customer purchasing power are among the factors that affect how much is produced. Government regulations (v), goals (vi), and marketing techniques (vii) are all factors.
- Utility and demand, the degree of market competition, governmental and legal restrictions, pricing objectives, and the marketing techniques used.
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