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Price means the rate at which the merchandise can be bought. A number of factors get excited about determining the price of a product. These include competition, market share, product identity, material costs along with the value customers perceive of a product. In fact cost is also dependant on competitor's products. If the competitors have the same product, then the buying price of something will go down.
Model Cindy Joseph's advertisement for Nivea Vital moisturizing cream was banned for exaggerating outcomes of the product on Tuesday (August 27, 2013). The Advertising Standards Authority (ASA) in the UK told the brand's owner Beiersdorf to halt while using the advert, whose anti-aging claims was considered misleading.
When used in business practices, technology can ensure the competitiveness of companies and other companies. But the cost of achieving, inventing or using technology, called intellectual property, is very high. Therefore, many societies, such as the United States, Europe, and Taiwan, would give the government protection from this investment, through the granting of patent, exclusive rights. This protection enables companies to invest in technical costs that can be recycled, thus encouraging innovation. But there is another point, too, that patent overprotection can hamper innovation.
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