What Does Mean For Price?
Price refers to the amount of money that a buyer pays to purchase a specific product or service. It is determined based on various factors such as supply, demand, competition, production costs, and more. The price has a significant impact on the buying decision of consumers, as it can affect the perceived value of the product or service. Furthermore, pricing strategies have a crucial role in the success of a business, as choosing the right price can lead to profitability, customer retention, and market share growth.