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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. 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).

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