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.
And thatâs exactly why it can be so valuable for a fast-growing business. Any business starts out with a foundation of great customer relationships. You, the seller, connect with people who need your product. Yet, as your company grows, these business connections grow more sophisticated.