Pricing refers to the process of determining the amount of money that consumers will pay for a product or service. It involves setting a price that balances various factors to achieve business objectives, such as profitability, market share, and competitive positioning.

1. Cost-Based Pricing : Setting prices based on the costs of production, including materials, labor, and overhead, plus a markup for profit.


2. Value-Based Pricing : Pricing based on the perceived value of the product to the customer, rather than the cost to produce it.


3. Competition-Based Pricing : Setting prices based on the prices of competing products in the market.


4. Market Demand : Adjusting prices according to consumer demand, with higher prices when demand is strong and lower prices when demand is weak.


5. Psychological Pricing : Using pricing strategies that affect consumer perception, such as setting a price at 99.90 nair instead of 100 naira.


6. Dynamic Pricing : Adjusting prices in real-time based on changing market conditions, supply, and demand.

1. Prices fluctuate based on the availability of products and consumer demand.


2. Costs of inputs like seeds, fertilizers, labor, and equipment directly impact pricing.


3. Economic conditions, competition, and market trends can affect prices.


4. Higher quality and better-graded products typically command higher prices.


5. Prices vary with seasons; some products are more expensive off-season.


6. Location of production and distance to markets can influence transportation costs and, consequently, prices.


7. Subsidies, tariffs, and price controls by the government can affect pricing.


8. International demand and trade policies impact prices of exported and imported agricultural products.