- Price means an exchange value for product or service. In other words, it is an amount decided by producer that customer has to pay in lieu of goods and services.
- “Price means financial resources required for exchange of some parts of product or services related it” – William
- Pricing means decision regarding price, policies related to price or determination of price (i.e) increasing price or decreasing or keeping it stable.
- Decision concerning price to be followed for a period of time may be called price policies