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Explain the Following Functions of Marketing: Pricing of Products - Business Studies

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ConceptMarketing Functions

Question

Explain the following functions of marketing:

Pricing of products

Solution

Pricing of products: It refers to the amount of money which the customer has to pay to obtain a product. Price is an important factor affecting the success or failure of a product in the market. The demand for a product or service is related to its price. Generally, Lower the price, higher would be the demand for the product and vice versa.

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Solution Explain the Following Functions of Marketing: Pricing of Products Concept: Marketing Functions.
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