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Price is an important aspect of marketing this is because it determines whether a consumer will purchase or will not. Since marketing starts and ends with a consumer, pricing determines things like segmentation, sometimes it influences the final decisions of a consumer. Now many people who are the end consumers doesn't know what determines the price of goods and services however inasmuch as a company's or manufacturer's  aim is to make profit they reckon a lot with factors like cost of demand, demand for product competitiveness In an open market, purchasing power and a whole lot of others.



**Competitiveness In an Open Market** I mentioned In one of my videos months ago that *competition is healthy because it reduces arbitrariness and monopoly,* now a manufacturer enjoying only the patent right to produce a good will definitely determine price because there's no competition from opposing firm to check their excesses. Competitions within these manufacturers favours the end consumers  because the more quality offered for an affordable price makes a consumer choose a brand over another. This is currently happening between Xiaomi, Techno and Infinix Mobile. 


**The Demand Price** is a price which a consumer is willing to pay for a good and service. A firm always aims to establish equilibrium between *the demand price* and *the supply price* else there might be greater or lesser equilibrium which means higher production or decrease in production, now higher production will mostly signify that consumers are buying at a larger extent which means that prices are likely to increase because of increased demands or lower production will mean that prices are going to reduce. It all depends on the demand price of a consumer.



**Demand for Product** is also something that determines pricing. Sometimes the demand for a product makes a manufacturer decide whether to Increase or decrease price. fruitful or top notch marketing/hype can raise the demand for a product. The eighth season of the series *GAME OF THRONE* was the most anticipated television series I had seen in a long time, I don't know if the producers took advantage of this to increase prices for television rights **(which of course I think they may)** This case scenario is an increased in demand for a product and if a manufacturer has a set price already, this factor might change this in totality.



**The purchasing Power Of A Consumer** now things like buying power is often influenced by how much a consumer is willing to spend, which might also be determined by his income. Now in geographical segmentation sometimes the price of a good or service can vary let's say in an area like Victoria Island in Lagos Nigeria to a place like Mushin, the consumer buying power is totally different and this might influence a manufacturer to sell their product for different rates in these two places. So the main aim of production is to sell and sometimes the buying power of a consumer influences how prices are set and equally adjusted.