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Definition of Price:  The money exchanged for the product in business transactions.

Marketers must set a price for all goods and services. Price is very important because it is the only element in the marketing mix that produces revenues (i.e., product, promotion, and place all represent costs to the organization).

The Internet can potentially have a dramatic impact on the price of goods and services; however, it is debatable whether the end result will be lower or higher prices. Links to two conflicting arguments are presented below.

Prices will go down because...

Prices will go up because...

So what has happened so far?