Table of ContentsIntroductionAppleGoogleCoca ColaConclusionIntroductionOne of the most critical business functions is pricing, or defining the monetary value of an organization's products and/or services . This means that certain important factors which determine the price are supposed to be taken into account, for example the level of market prices, the forces of supply and demand, the cost of production (including expenses) and the level external competition. Apart from bringing profits to the company, pricing is also used to penetrate a certain market or even as a skimming strategy. Other strategic roles of price include (from the consumer's perspective) price-quality strategy, reference pricing strategy, sales price strategy, price ending nine strategies, discount pricing strategy and finally , decoy pricing (Neu 50). All of these are applied objectively in a way that achieves a certain market effect (which reflects a certain degree of organizational success). Therefore, it is observed that some of the biggest companies in the world are using certain pricing strategies to enlighten their prosperity in the market. As such, they have adopted the most favorable pricing strategy that reflects their business needs and goals. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the Original EssayAppleApple is the leading retailer in the field of electronics, computer gadgets and accessories, and software. It is a technology company that primarily relies on the cost-based pricing model to value its products. The reason for this choice is driven by the high value of its raw materials and significant trading costs. In addition, its manufacturing plant is located in China while the secretariat and showrooms are based in America (330). This leads to higher business costs which must be taken into account when determining prices. One of the effects of this strategy is that it leads to extreme price levels, which is part of the reason why Apple products are very expensive. Google Google is another large technology company that specializes in providing search engine services on the Internet. It also designs and sells computer applications and gadgets. It is a major player in the sector and currently the market leader, closely followed by Facebook. According to Neu, Google depends on a competition-based pricing strategy to maintain its market share in the virtual market (77). It closely monitors its competitors to set pricing levels that reflect the nature and form of competition in the search industry dominated by more than 10 players, including Amazon, Opera Mini, Yahoo, Wikipedia, Twitter and more. others. As a result, Google prices are relatively low to encourage high customer retention (600).Coca ColaCoca Cola is a leading beverage company that has perfected the art of marketing and advertising to acquire large market share and eliminate new players. What's more, it has stifled the growth of other players in local markets due to their price level and market approaches. It relies heavily on a market-based pricing strategy that primarily takes into account the forces of supply and demand. This means that the company must incentivize its customers to ensure that there is an adequate level of demand so that its supply triggers an equilibrium price in the market (210). As such,.