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3 years ago

The determination of an exchange price acceptable to both the buyer and the seller of a product is called

Business

1 answer:

antoniya [11.8K]3 years ago

6 0

Answer: pricing

Explanation:

Pricing is the determination of an exchange price acceptable to both the buyer and the seller of a product.

When a seller is determining the price of a product, she considers cost of production, projected revenue, price of competitors, market condition and regulation.

A buyer would consider the quality of the product ,economic conditions and utility when deciding on the price to acquire a product.

The different types of pricing strategies are -

1. Penetration pricing - when prices are set very low to attract customers and to gain access into a market.

2. Premium pricing- when prices are set very high so that the product would appeal to certain consumers.

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3 years ago

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Answer:

1. 4 years

2. No

Explanation:

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