Pricing

Pricing refers to the process of determining how much a company will charge for its products or services. It takes into account factors like production costs, demand, competition, and market conditions. Effective pricing strategies can influence consumer behavior and affect a company's profitability. Companies may use different pricing models, such as cost-plus pricing (adding a markup to costs) or value-based pricing (charging based on perceived value). Ultimately, pricing is a key element in business strategy, balancing the need to attract customers while ensuring financial sustainability.