What is pricing in functions of marketing, Marketing Management

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What is pricing in functions facilitating exchange?

Pricing:

Determination of price of a product is a significant function of marketing manager. Product’s price is influenced through the cost of product and services given, profit margin needed, prices fixed through the rival firms and policy of government. A sound pricing policy is a significant factor for selling the products to customer. A price policy of a firm must be such that which attracts all types of customers of various means.

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