Marketing mix (Price)

The price is the amount a customer pays for the product. It is determined by a number of factors including market share, competition, material costs, product identity and the customer's perceived value of the product. The business may increase or decrease the price of product if other stores have the same product. iPhone news apps that pricing strategy as extremely competitive. There is a need to determine how products will be priced and how more customers will continue to buy from iPhone apps store. To fix the prices of iPhone news apps, it is essential to understand perceived value that those products provide to the end buyer. It is also important to understand the market position and also observe the prices of competitors for the same product. iPhone news apps prices are low because they offer free apps or one time paid for apps. some iPhone news apps is free offer, others are one times paid for. people do not buy newspaper day by day. However, iPhone news apps need to reduce its prices to capture the attention of customers. People are very price conscious and in position strategy, it is found that iPhone news apps has a high position regarding price so iPhone news apps need to compare its price with competitors to gain more potential customers.