Price

Definition

Price is the formal ratio that indicates the quantity of money, goods, or services needed to acquire a given quantity of goods or services. [1]

It is the amount a customer must pay to acquire a product.  [1]

Along with product, place, and promotion, it is one of the 4Ps of Marketing .[2]

 

References

1. ^ American Marketing Association, AMA Dictionary.
2. ^ Govoni, N.A. Dictionary of Marketing Communications, Sage Publications. (2004)