Price

Price

Definition

• The value attributed to a product or service that customers pay to obtain it.

Pricing Objectives and Strategies

• Involves pricing objectives, strategies, adjustments, and payment terms (OSPT).

Buyer Perspective

• Price perception influenced by (QFCE):

  • Quality

  • Functionality

  • Competitors' product prices

  • Expected personal benefits

Seller Perspective

• Price can impact (RPFL):

  • Revenue and profits

  • Profitability

  • Financial stability

  • Long-term survival of the organization

Conclusion

• Proper price setting is crucial for both buyers and sellers.