Product Pricing Practice Test for Certification

Learning Product Pricing and planning to give a certification exam?

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Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan. Pricing is defined as the amount of money that you charge for your products, but understanding it requires much more than that simple definition. Baked into your pricing are indicators to your potential customers about how much you value your brand, product, and customers.

Product pricing is a process that entails the translation of product value into quantitative terms. Pricing decision is usually made before its initial release to the market, however, businesses can change the selling price at any point for a variety of reasons.

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