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PRICING AND ADVERTISING
CONTENT- Definition of Pricing
- Meaning of Advertising
- Pricing Strategy
- Price Determinants
Definition of Pricing
Price means the amount of money that is offered or asked for when something is bought or sold. Pricing is the placing of price on a particular farm produce that will suit the customers and fetch higher income to the farmer. Farmers also promote their products and services through such techniques as advertising and personalized sales, which serve to inform potential customers and motivate them to purchase.Meaning of Advertising
Advertising is a means by which a farmer tells the would-be consumers about the existence of a product, the quality, the uses and the price of such produce. Four elements are normally distinguished: getting the right product to the market; selling the product at the right price; ensuring that the promotion is right - that is, advertising and marketing for the product; and ensuring that the product is distributed to the most convenient place for customers to buy it.Pricing Strategy
Pricing strategy is defined as the method adopted by the business to set its selling price. The step implemented by a firm to determine the optimum price of a product, and the strategy includes:You are viewing an excerpt of this lesson. Subscribing to the subject will give you access to the following:
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