... in which businesses may choose to price their products; they choose the best one to suit them. I believe that pricing products in order to beat competitors is not necessary however; I will need to look at my competitor's prices in order to gain some idea of how to price my own products. I would not want to exploit customers by over pricing. Another structure of pricing is referred to as Promotional pricing. This is when there is a reduction in price to attract customers to an existing product or to sell off old products (e.g. in a sale) this reduction however, should be reasonable. Sales of a product may be falling a little and in need of a boost, or stock may need to be sold to make room for the next range of the product. In both cases, promotional pricing can be very useful. Once again this is only ...

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