10/06/2026
Product pricing is the process of determining how much a product or service should cost.
Several factors influence pricing, including:
📌 Cost of production or delivery
📌 Market demand
📌 Competition
📌 Product quality
📌 Target customers
Setting the right price is important because pricing affects sales, profitability, and customer perception. A price that is too high may discourage buyers, while a price that is too low may reduce profits and make customers question the product's quality.
Smart businesses carefully balance affordability and value to ensure both customer satisfaction and business sustainability.
Did you know? Customers often consider value not just price, when making purchasing decisions.