HOW CRUCIAL IT IS TO ESTABLISH THE RIGHT PRICE.

Price on its own doesnt defined a product or service, rather, it helps establish a value perception in the mind of the consumer.
                 Additional factor, such as benefits, quality branding,etc.

 Aid comperism with other offrings in the perticular category.
 most categories are highly competitive and cater to spacific market segement. as a consumers becomes more knowlageble of the chioce available to and ingreasingly sophsicated in their buying decisions, they espect greater benefits at lower prices.
            
  Price and value are at the top of consumers buying caracteria. price is not somuch about the amount on the tag,as it is about the percieved value of the item.onces the product benefits the quality, branding distributing channels,etc. have been determined, the price tag will dictate where it is positioned in the categories
             
  Price decision should be driven by a clear understanding of market dynamics, the target segment and the value perception of the offring. from this point on, supply and demand force will determine the sales success of the offering.
            
   Pricing is as much a science as it is an art. at the most foundermental level,price is determined by supply and demand. at the other end of the continnum pricing can include suphsicated notions such as elasticity, reference price and persive value to name but few.
             
   in marketing 101 we were tought about the 4ps: price, place, promotion and product. without a product or service you dont have a bussiness.without a channel or outlet you cant get your offring to the market. without a price you dont have a turnover, let a lone a profit, the main driver of any bussiness.
               
 setting the right price from the outset is vital. its a crucial, mechanism to ensure the bussiness
derives a value; a benefit perception commensurate with the price charged. by ANDREW CHUKS