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Price is a reward tag given to a particular product, and it works together with qualitative acceptance before there's is an agreement between a customer and a seller that a goods or commodity should go for a particular rate. Price is amongst the 4 "P" of marketing and I basically feel that even after production, place and promotion takes place, price is the sole determining factor that decides if a product will go for a particular rate and deservedly so as well. In essence people see fail to understand the underwhelming importance of pricing and as a result of this they often set it to low or too high and even huge organisations have really been guilty of this as well. For example if I as a consumer gets into a store and ask for the price of a product, it means it might have done my homework on that product, must've been sucked in by the packaging or the advert as well and that's when I proceed to ask for the selling price.

Mind you no matter how good a product is, the selling price determines everything even if you're not broke, there's this new opinion you get after getting to know about the price of a product sometimes it can be disappointment, it can be inferiority or it can even be a turn off considering the fact that you think a product for sale in a wholesale or retail store is underpriced or overpriced. However sometimes our opinion is always very wrong and here is why, sometimes we get the premonition that a product is going for an expensive selling price but when we buy, use and experience this product, we attain a certain satisfaction that somehow changes our mindset about whether a product is overpriced or underpriced, but sometimes a customer might not even have the opportunity, the means and the pleasure of buying a costly or cheap product, they often stop at the pricing stage and you can't blame this at a potential consumer.


Without a doubt, price is important and when an organisation finds a panacea to solving this it determines what people feel about their product, so if people can see that a product isn't overpriced or underpriced from looking at a product then it means maximum effort at efficiency has been put in place by the manufacturers of this product. So as much as content is the real product, we have to convince the people who just looks at packaging in other to conclude if a product is overpriced or underpriced that a product is worth it and we can do this or organisation, sole proprietor or single business people can offer free demo or usage of their products and when this is done, then customers feedback on places like social media can determine how the prices of a product can be set. However this only works when you're a new product in the market.

So sometimes advertising and promotion might be a waste is pricing is bogus and why is this? Sometimes people are often turned off because a commodity seems too cheap, they feel the raw material isn't qualitative enough hence the reason why a product is cheap they might not even get to understand that you're looking for new customers hence the reduction in your prices which you set for a short period of time, some might understand your reasons as to why your product is cheap, others might not and the others that "might not" might be a huge percentage of the market that you need as an organizational head or as a sole proprietor as well, this same process is what happens too when you set your product to be too expensive, the cycle is same and that's why an incoming organisation coming into the market should consider taking the measures of Price setting and placement.


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##### @Josediccus, Sole-Preneur, Your Brother In Pen And Video 📷


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