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State about the Demand - pricing decisions
Demand also affects the price in a big way. When there is limited supply of a product and demand is high, people buy even if high prices are charged by the producer. However how high the price would be is dependent upon prospective buyers' capacity and willingness to pay and their preference for the product. In this context, price elasticity, i.e. responsiveness of demand to changes in price must also be kept in view.
Sales promotion: Meaning & definition: the word promotion originates from the Latin word "promovere" to move forward or to push forward. Sales and promotion are the two diffe
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Price "The amount of money charged for a product or service, or the total of the values that consumers exchange for the benefits of having or by using the service or product".
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