Renaissance for LEADERS

Peak Performance Resources for Leaders by Leaders

Tag: Price

Add Value

1. The difference between the price of a product or service and the cost of producing it. The price is determined by what customers are willing to pay based on their perceived value. Value is added or created in different ways. 2. The extra features of a product, service, or person that go beyond the standard expectations and provide something more, even if the cost is higher to the client or purchaser. Value-added features give companies a competitive edge and allow them to charge higher prices than their competitors.

Commodity

1. Something useful that can be turned to commercial advantage. 2. A product or service that is indistinguishable from ones manufactured or sold by competing companies and therefore sells primarily on the basis of price rather than quality or style. 3. Any unprocessed or partially processed good or resource, for example, grain, fruit, vegetable, or precious metal.

Deflation

1. The act of deflating or state of being deflated. 2. A reduction in the level of total spending and economic activity resulting in lower levels of output, employment, investment, trade, profits, and prices.

Fair Value

The price agreed to acquire a product, service or asset between a knowledgeable and willing buyer and a knowledgeable and willing seller assuming that each party is operating in their own self-interest and the transaction is conducted at arm’s length.

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