What external factors affect the pricing decisions made by organizations?
Expert Answer
price is the genesis of a firm, which create a way to firm to meet its obligations and goals. the price of a product or service will be fixed by producers based on many factors. among those the external factors are as follows:
the demand of the product in the market: if the demand for given product is high, the producer will fix high price to te product.
existed competition in the market: when there is high competition existed in the market, the producer must concern the pricing policies
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