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13 January, 20:20

The pricing function is an integral part of the companies :

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  1. 13 January, 21:34
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    Yes

    Explanation:

    Pricing plays an essential role for a product and organisation. At a very basic level, an organisation exists to make profit. A price must cover the cost of a good sold.

    Pricing also plays a role in the perception of a product (marketing mix). For example, an Apple product is not cheap because of some perceived value of the product.

    Another reason why pricing is integral is in times of competition, it may be worthwhile to use price to take market share from competitors.
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