What does Price In Marketing Mean?

it is the sum of money needed to acquire a given quantity of goods or services.

“Price” simply refers to how much you charge for your product or service. Determining your product’s price can have several variables. Some people feel they must have the lowest price around. This may be a signal of "Cheapness" and not part of the image you want your product to have. Example: you never see "Year end" sales on Rolls Royces or Rolexes. Pricing these items high gives the buyer a feeling of exclusivity. Other things, like generic soda are priced cheaper since they are not trying to be the best product, but simply the cheeaper alternative to name brand. Some brands have "loss leaders"...or products with little or no profit built in simply to saturate the market with volume, and create brand loyalty and make the profit over time. The pricing approach should take into account the positioning of your product in the market and result in a price that covers your cost per item and includes a profit margin.

it is the sum of money needed to acquire a given quantity of goods or services.