Price is: -The money charged for a product or service-Everything a customer must give up to acquire a product or service-Usually expressed in terms of £ per unitThe price is the amount customers pay for a product. Cost is the amount a company spends to make the product. However, a business must take the cost of production into account when setting the price to ensure it makes a profit on the products it offers. The price a company charges for its product or service is one of the most important business decisions made by management. For example, unlike the other elements of the marketing mix (product, place, and promotion), pricing decisions directly impact revenues rather than costs. Price is the most essential The elements of price are expense, mall, rivalry, economic situation, brand and nature of the item. Price is also a key variable in the microeconomic value assignment hypothesis. Pricing is a crucial part of your budget visualization and is one of the four Ps of the presentation mix. (The other three aspects are product, promotion and place) Price is the main revenue producing component among the four Ps, the rest is focused on expenses. On the other hand, promotion alternatives P will contribute to the decrease in price elasticity, thus allowing price increases to generate larger revenues and profits. Automated systems require more setup and support but can avoid misjudgments. The buyer's needs can only be transformed into interest if the customer has the willingness and ability to purchase the item. Therefore, estimation is the most vital idea in the field. of marketing, is used as a strategic choice as part of the reaction to the observation of the circumstances of the business sector. Price is the associated value given to a quantity of goods and services. The price of an item affects benefits, rent, interest, compensation which are the prices paid separately to the variables of creation: business, land, capital and labor. Subsequently the value acts as a regulator of the economy, since it influences the distribution of the factors of