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What does pricing mean in business?

Answer and explanation

Correct answer: Deciding the selling price of a product or service

Pricing is the process of deciding the amount a customer will pay for a product or service. A business may consider cost, demand, competition, customer value, and desired profit while making this decision. Packaging, distribution, and promotion support marketing but are separate activities from setting the selling price.

Related tags

PricingBusiness BasicsMarketingRetail TradeInternal TradeBusiness StudiesClass 11 Mcq

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