Meaning of the word pricing in English

What does pricing mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

pricing

US /ˈpraɪ.sɪŋ/
UK /ˈpraɪ.sɪŋ/

Noun

the amount of money expected, required, or given in payment for something

Example:
The company needs to review its pricing strategy.
Competitive pricing is crucial in this market.