Price fixing is a situation where a collection of businesses collaborate as one and coordinate their pricing decisions.
To remain competitive in marketplaces under rising volume and price pressure, the proper pricing strategy is crucial. It gives you the compensation you are due for the goods and services you provide and ensures the earnings you need to make investments in change and expansion. Pricing is the process of determining the value that a manufacturer will receive in exchange for their goods and services. The producer uses a pricing strategy to make the cost of its products suitable for both the manufacturer and the consumer. Pricing is influenced by a number of variables, including production costs, raw material costs, profit margins, etc. The goal of pricing is to set the product's price so that the most profit may be made from it. A product's price is affected by a number of variables because price is a complex concept.
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