I believe price is what we pay for a good} service in return. Price is one of reason in decision making for buying the product. In recent times Price acts as a signal of quality. I believe price is always dependent on supply and demand. Nowadays price is reecting the value that consumers are willing to pay in luxury based business but when coming to need based business it is prices that reflect the cost in making the product. For Example, Volkswagen sell more vehicles than Porsche where market share, revenue is high for Volkswagen but for Porsche Profitability is high, these factors also makes a decision in pricing. But according to me $2 bottles of water, $150 running shoes, and $500 concert tickets is not a fair price at all because only a set on consumers are in a position to afford. I feel Fair price should reect factors such as cost of manufacturing the product, the value of the product, Demographic conditions, competitor's price, demand supply. From Business Perspective, Profits is one of the motives for successful business practicing so the quality of the product can enhance the price and value in comparison with competitor's prices for substitute goodsfservices