An essential part of the marketing planning process is setting the right price. Price is the perceived value exchanged for something else. In our society, value is mostly expressed in dollars and cents. Therefore, price is usually the amount exchanged for a product. Perceived value is the perceived value of a product at the time of the transaction. After using a product, a consumer may decide that the product's actual value is less than the perceived value at the time of purchase. The price you pay for a product is based on the satisfaction your customer expects to receive, not necessarily actual customer satisfaction.
Prices are usually quoted in dollars but can be anything of perceived value. When goods are exchanged for each other, these transactions are called barter. It is too difficult for large companies to grasp and manage the complexities of these ever-changing pricing variables for thousands of products. This is a big data problem.
Group Futurista is pleased to offer you a great opportunity to gain insight into ‘The Future of Pricing for Businesses’. The subject of thought with a wide scope in the field of business, along with a significant industry-leading spokesperson who will be collaborating to share their veritable understanding of the subject of study, which has a wide scope in the arena of business.
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