PRICE FORMATION IN MARKETING: A TOOL FOR PRICE FORMATION AND CHANGE

Abstract

Price and price formation is one of the key elements of a market economy. Price is a complex economic category. It intersects almost all the main problems of economic and social development. Primarily, this applies to the development and sale of goods, the formation of their value, the creation, distribution and use of gross domestic product (GDP) and national income. A pricing strategy is a long-term decision about the basic principle of price formation, the probability level, direction, speed, and periodicity of price changes in accordance with the company's market goals.