Process of making or manufacturing of goods

payment of interest for the duration of the loan

Payment and expenditure made for the production or acquisition of raw materials and salary

Represents form of payment

Sum of other expenses or cost generated from the business or as known as overhead expenses

All materials needed both for direct manufacturing those needed for functioning of the business

salaries or wages plus additional cost as payment for incentives on overtime workers

The cost incurred by a business from manufacturing of product are providing service

( TR= TC ) Example 2,000 = 2,000

( TR > TC ) 8,000 > 4,000

(TR < TC) 6,000< 2,000

The difference between what is paid for the merchandise and its end price to the clients

an outline or model of one thing

Indicates value of commodity or service in the form of money

Result of the input and process in the form of output

Type of business that has no products but purely service

Approach or method used in

Model used to establish the best price for a product or services in a part of pricing system

price increase when there is evidence

9. 95 instead of 10.00

Mixture of clustered products with volume price

Setting up price targeting specific target

Aiming to set quality and status also called prestige strategy

Common new entrepreneurs order to establish market and build up more customer

Pricing strategy which an entrepreneur set a relatively high initial price for a product

Sampling Approach