By Ingrid Mota
What is a price? It can be understood as several things, for example, it is the point where supply and demand coincide. It is also a sign of competitive conditions in a market. But, importantly, the price of a product is part of the essence of the marketing and it constitutes the most quantifiable part of the process: it indicates the value that the consumer is willing to pay for a product or service.
Being part of the 4 P's of marketing, the price is determined by different variables such as the product itself, the promotion that will be given and the place where it will be sold (square). …