Pricing: meaning, definitions and examples
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pricing
[ ˈpraɪsɪŋ ]
cost estimation
Pricing refers to the process of determining the value or cost of a product or service. It involves setting a price that will cover costs and generate profit while being competitive in the market.
Synonyms
Examples of usage
- The pricing strategy must consider customer perceptions.
- Our pricing has been revised to attract more clients.
- Effective pricing can significantly boost sales.
to set costs
To price something means to assign a value or cost to it. This is often part of a larger strategy to position the product in the market.
Synonyms
Examples of usage
- We need to price our new product competitively.
- She will price the items during the sale event.
- They decided to price the service based on demand.
Translations
Translations of the word "pricing" in other languages:
🇵🇹 preços
🇮🇳 मूल्य निर्धारण
🇩🇪 Preise
🇮🇩 harga
🇺🇦 ціноутворення
🇵🇱 ceny
🇯🇵 価格設定
🇫🇷 tarification
🇪🇸 precios
🇹🇷 fiyatlandırma
🇰🇷 가격 책정
🇸🇦 تسعير
🇨🇿 ceny
🇸🇰 ceny
🇨🇳 定价
🇸🇮 cene
🇮🇸 verðlagning
🇰🇿 бағалау
🇬🇪 ფასი
🇦🇿 qiymətləndirmə
🇲🇽 precios
Etymology
The term 'pricing' originated in the early 20th century, derived from the verb 'to price.' It is closely related to words in different languages that denote the cost or value of goods. The word 'price' itself comes from the Latin term 'pretium,' meaning 'value' or 'cost.' Over time, the concept of pricing has evolved alongside economic theories and market strategies, leading to various pricing models that businesses employ today. These can range from cost-based pricing to value-based pricing, illustrating the importance of perceived worth in consumer decisions. The significance of pricing strategies has increased with global trade and the rise of digital marketplaces, prompting businesses to continuously adapt their pricing to reflect market conditions and competition.