Pricing Policies

Pricing Policies

Chapter One

Pricing Policy

Pricing proposition

Pricing is an important and complex element of the marketing blend and generates the loftiest position of external hindrance because of its place as a major determinant of the volume of goods and services available for the consumers in any frugality.

Generalities Of Price

A lot of delineations have been given to price by colorful authors depending on their disciplines.

To the nonprofessional in the road, price is the plutocrat value of a yield or service agreed upon in a request sale. This means putting a value( both palpable and impalpable) on commodity in naira and kobo and also chancing a dealer who agrees with that evaluation.

Price is also regarded by some as what’s left over after charges have been subtracted from profit or income.

According to Adirika( 1996) price is a financial expression of value. Value is created in mileage, mileage is an expression of utility, while utility is grounded on the eventuality for need and want satisfaction.

Odike( 2001) observed that price is an important variable in any type of frugality and for all types of profitable conditioning. It’s understood to mean what must be given in exchange for what one gets. Price is functional wherever exchange takes place.

According to Anyanwu( 2000) pricing is a specialist assignment goods and services in any ultramodern frugality. Price have the capability to determine both the standard of living of the citizens and the position of profitable development of any nation.

Pricing is the process of determining the price, price being the quantum of plutocrat for which a thing is offend, vended or bought.

Price can also be define as the plutocrat value of a product which emerges in a request sale.

Busch and Honston( 1985) defines price as the value assigned to the mileage one receives from goods or services.