How pricing is critical element of business decision making, Other Subject

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How pricing is critical element of business decision making

Problem: Pricing is a critical element of business decision making. Several factors determine the price of a product such as the general economic environment, demand for the product and the cost of production. Knowing the cost of production is good for determining the appropriate price of a product. If you have to help a new client come up with a good pricing model, what are some of the factors that you will consider and why?

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