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Factors affecting the price determination - Coggle Diagram
Factors affecting the price determination
Product Cost
High
High Price
Low
Low Price
Utility & Demand
More Utility
High Price
Less Utility
Low Price
Demand is Elastic
Low Price
Demand is Inelastic
High Price
Extent of Competition
Less degree of competition
High Price
High degree of competiton
Low Price
Marketing Methods
Better / Unique More Price
Govt & Legal Regulations
Essential Commodities
Govt regulate prices
Profit Maximisation
Short Run
High Price
Long Run
Low Price
Obtaining Market leadership
High Degree
Low Price
Less Control
High Price
Survive in a competitive market
Survive
Low Price
Face difficulty
High Price