Question

Briefly explain any four factors that are taken into consideration while fixing. price of a product.

Answer 1

Answer:

7 important factors that determine the fixation of price are:

(i) Cost of Production:

(ii) Demand for Product:

(iii) Price of Competing Firms:

(iv) Purchasing Power of Customers:

(v) Government Regulation:

(vi) Objective:

(vii) Marketing Method Used:

Explanation:

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