Question

An organisation is using eco friendly techniques of production to produce its goods which results in high cost. The finance manager opposes this but marketing n production manager support it. Which value are reflected here

Answer 1

Answer:

Price is the value that is put to a product or service and is the result of a complex set of calculations, research and understanding and risk taking ability. A pricing strategy takes into account segments, ability to pay, market conditions, competitor actions, trade margins and input costs, amongst others. It is targeted at the defined customers and against competitors.