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• PRICING

  is the act of determining the price of a product or services
• PRICE

  defined as the set amount customers have to pay to purchase a product.
• PRODUCT COST

  costs involved in manufacturing goods or offering services. these include the raw materials, direct labor, and factory overhead.
• OPERATING EXPENSES

  costs of running a business. these include rent and utility cost, office supplies, and marketing expenditures.
• COMPETITORS

  consumers sometimes based their purchase decision solely on the price of the product. if a competitor offers the same product with the same benefits at a lower price, the consumer would patronize the competitor's product. this often leads to a price war.
• ECONOMIC CONDITION

  companies may choose to do cost-cutting methods during hard times. in cost-cutting, the companies will sacrifice the quality of their products in order to manufacture them at a lower cost.
• GOVERNMENT LAWS AND REGULATION

  when the sin tax reform law or Republic act 103551 was approved in the Philippines, it imposed taxes on alcohol and tobacco products, thereby significantly increasing the prices of these products.
• PRICING STRATEGY

  is a model or method used to establish the best price for a product or service.