Pricing is defined as the process of determining the value that is received by an organization in exchange of its products or services. Price of a product or service of an organization has a direct impact on the profitability of the organisation. Therefore fixing appropriate price is a strategic decision that is taken and reviewed by the top management at regular intervals. The pricing policy may vary from firm to firm depending on the objective of the organisation. There is different pricing for a product like wholesale price, retail price, published price, quotes price actual price and so on. There are three basic pricing strategies. They are skimming, neutral and penetration. The presentation will give more details on the pricing policies and practices.

Jincy Anna Joy

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