Answer / ritesh r wakode

costing includes all factors of production and ur profit.
pricing is relative term. that depends on the nature of ur
products or services. If are new entrant to the competitin
then u must price as same as the competitors. if u want to
capture the mass market u should charge price less than the
competitors. If ur product is premium then the pricing would
depends on how many consumers u want to serve and how much
profit contribution u want from those consumers.

Answer / riyaz khan

New product always introduce by market need and demand, if
market demand has high then ur get good profit, second if
any compitater in market than we must check what is his
pricessing in market and what is his product quality, if
our product quality is better then our competater then we
can take high price

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