Pricing and promotion are two critical components of the marketing mix used by firms to sell their goods or services. Pricing relates to the amount of money a client spends on a product or service. Marketing, on the other hand, describes the actions a business does to reach and appeal to its demographic.A variety of variables, including manufacturing costs, competition, and consumer behavior, influence pricing choices. Companies use pricing techniques to attract consumers, increase sales, and maximize profits.Promotion may take many forms, including but not limited to advertising, sales promotions, public relations, and personal selling. The promotion aims to raise client awareness, increase interest, and encourage them to buy a product or service. Companies can use promotional methods to differentiate their products from competitors, build brand value, and enhance customer loyalty.