Keywords: Customer Value, Customer Satisfaction, Customer Loyalty
Definition of Price
In a narrower sense, price is the amount of
money demanded for a product or service.
In a broader sense, price is the sum of all
the values that customers give up in order
to benefit from having or using a product or service. In the past, price was the most
important factor influencing a buyer's
buying decision. In recent decades, the
importance of non-price factors has
increased. However, price is still one of the