
01/06/2023
Pricing is a process of fixing the value that a manufacturer will receive in the exchange of services and goods. Pricing method is exercised to adjust the cost of the producer’s offerings suitable to both the manufacturer and the customer. The pricing depends on the company’s average prices, and the buyer’s perceived value of an item, as compared to the perceived value of competitors product.
Objectives of Pricing: Survival, Expansion of current profits, Ruling the market.
Types of Pricing Method: Cost Oriented Pricing Method, Market-Oriented Pricing Method