4 Ps of Marketing - What is Price?

The video tutorial discusses the complexities of setting the right price for a product. It covers the need to balance between low prices to increase sales and high prices to ensure profitability. The tutorial emphasizes understanding all costs involved, including production and delivery, and setting prices slightly above these costs. It also explores different pricing strategies based on customer perception and the importance of creating value for both the company and the customer.

Why is it important to be fair to customers in pricing strategy?

What role does marketing play in setting the right price for a product?