What is a price? Narrowly, price is the amount of money charged for a product or service Broadly, price is the sum of all the values that consumers exchange for the benefits of having or using the product or service O Copy rights reserved, Zou Deqiang2 2 © Copy rights reserved, Zou Deqiang What Is a Price? • Narrowly, price is the amount of money charged for a product or service. • Broadly, price is the sum of all the values that consumers exchange for the benefits of having or using the product or service