Price may be defined as an exchange of goods and services in terms of money. Price has around two elements first is utility and second is value. A pricing strategy is used to define the best price for a product or services. Pricing strategies look after pricing methods for their products or services and other factors like distribution costs, competitor offerings, positioning strategies, and the business target customer base, etc. A good pricing strategy can determine the price at which you can maximize profits on sales of the products or services.