A power strip is a block on the end of a power cable with a number of sockets (usually 3 or more), often arranged in a line. This term is also used to refer to the whole unit of a short extension cord terminating in a power strip.
Why Is It Important? Pricing is a key determinant in the decision making process customers use to purchase a product or service. It is important to establish how much your target market will pay for your product or service. Shows you how sensitive your customers are to changes in price.
A marketing plan is also important for developing a promotional strategy as it helps your business identify its target markets and to set measurable goals. It is vital to the success of the organization that you implement a marketing plan that aims for growth and positive change in the bottom line.