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.
Quick Answer. Promotion is important to help motivate employees and provide them with an incentive to keep working hard. Many employees are lured away from a company to a competitor by better opportunities, so firms need to offer promotional resources that enhance retention.