When it comes to purchasing foods in the market, it is important to know the role of a price whether if it is expensive or not, According to Merriam Webster dictionary, price is the amount of money given or set as consideration for the sale of a specified thing and other measure of a good or service, as the consideration given in exchange for transfer of ownership, price forms the essential basis of commercial transactions and to decide the amount required as payment for the product that is being sold. (Merriam Webster).In fact, the prices determined by what a buyer is willing to pay, a seller is willing to accept and the competition is allowing to be charged.
With product, promotion and place of marketing mix, it is one of the business variables over which organization can exercise some degree of control. On some occasions, the buyers as in the case auctions can set the price. In this research, the concept of a price is not investigated from a seller’s point view.
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Rather, price is an actual market price, which buyers can perceive (Merriam Webster).