In: Economics
To be profitable in the developing world it is important for a firm or company to set in the market and manufacture products according to their customers taste. And to know their customers taste, the needs, wants and their preferences is essential to manufacture. On the other hand firms or company should also decide the prices of their products according to customers affordability.
In the economic pyramid, if their is an inflation in market will lead to decrease in customers demand and in deflation it will lead to increase in demand.
So, pricing is also an essential factor for firms and companies to become profitable in developing world.
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