Why is that I a person responsible for pricing a product is said to be good at economics, sociology, accounting, statistics, probability and accounting??
A pricing manager must have the knoledge about following things in order to determine a fair price of the product:
Cost of the product
Market demand
Industrial Supply
Competiton in market
Customer Satisafaction level
etc.
So to know all these things accurately a person needs to be good at economics, sociology, accounting, statistics, probability and accounting
The one should know everything related to pricing, which levels the pricing and upgrades the product better in the market. The one who perform the task in such manner is called pricing manager.
