The 7p's( price)

price is the amount of money the consumers have to pay to puschase the product. when setting a price for a product they are things to be considered:

1. the basic price: the basic prie is the amount receivable by the producer from the purchaser for a unit of a good or service.the basic price should be reasonable so that a customer can afford to pay for the goods or service.
   


2. discounts: the product or service should give its customers discounts especially when they purchase large amount of the product or service.


3. pricing policy: pricing poliy is a standard proedure used by a firm to set whole sale and retail pries for its produt or servies.
   
   the pricing policy of the products should be resonable enough for the wholesaler and the retailer so that it can be sold to the customer in a price they can afford.


4. price variations: the same goods, made by different producer and sold in different prices.


5. price discrimination: it has to with the selling of goods to different customer at different product. sometimes depending on their order of the goods or their geographical location.


6. trade-in-terms


7. payment terms: its the conditions under which a seller will make a sale. the terms specify when the customer has to pay for the goods or service he wants.


8. credit terms: its a Standard or negotiated terms (offered by a seller to a buyer (customer) the credit term controls: (1) the monthly and total credit amount, (2) maximum time allowed for repayment, (3) discount for cash or early payment, and (4) the amount or rate of late payment penalty. its helps customer who dont have enough money to purchase the goods they want.