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.
Branding is crucial for products and services sold in huge consumer markets. Itâs also important in B2B because it helps you stand out from your competition. Your brand strategy brings your competitive positioning to life, and works to position you as a certain âsomething â in the mind of your prospects and customers.