Price considerations

• Price taker 


  A business has no choice but to charge ruling market price.
• Price market 


  The business has a strong enough competitive positions to be able to fix its own price either higher or lower than the competition
• Price Leader


  A price leader is often a market leader whose market share is so strong that it's price changes are closely followed (and often copied) by rivals
• Price follower 


  A business that just follows the price-changing lead of the market leader ignoring the rest of the competition
• Setting a price

  competiton, quality, image, profit per unit and production cost