Market price is actually the price when a service or a good is bought as well as sold most effectively. In the real world, a big agreement of eagerness for policies is there to affect the market price. Basically, it is the price of a product or an asset by the determination of demand and supply. It is actually the current price by which an asset or service can be sold or can be bought. The theory of economics conflicts that the market price gathers at a position where it gets forced in the meeting of demand and supply. It is one of the major elements of 4P’s that contains Promotion, Price, Product, and Place.  Selecting the price for a service or any product must not be done in a random way. Research should be done in multiple areas including competition, customer market as well as the life cycle of a product. Examining all these areas, the pricing strategy can be applied for its services as well as products. A market pricing strategy is also said to be a strategy based on competition. Actually, the company estimated the price for the same products available in the market. It actually depends on the matter when in the competitive market, the product or service is having more or maybe fewer features, a company can place the price lower or higher than the price of the competitor.

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