Answer / Rajiv Bhatnagar

Pricing determination refers to the process of setting prices for products or services. It can be influenced by various factors such as cost, competition, market demand, and customer value perception. Here's an example approach for pricing determination:

1. Determine costs associated with producing and distributing the product/service.
2. Research competitor prices to understand market conditions and positioning.
3. Identify target customers and their willingness to pay based on perceived value.
4. Balance the need to compete effectively while still ensuring profitability.

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