Setting the Right Price: A Quality-Based Approach to Maximise Sales and Customer Satisfaction

The purpose of this paper is to find a method to set an optimum price for a product.This method involves setting the price of a product based on its quality.This method involves rating the quality of a product based on certain specifications and setting a profit margin on the product which may be able to attract maximum sales.This paper helps find a solution to setting a price that will satisfy the customers based on the product's virtues.