The factor that I think affects price the most is the Law of Supply and Demand. When the demand for something is high the price goes up. An example is the iPhone. The demand for the iPhone is high so the company that makes the iPhone can command a high price because the demand is high enough and consumers will pay the price. If the demand is low then a company must lower the price. An example, is for the older versions of the iPhone. Apple had to lower the price for the older phone in order for people to buy the phone. The factor that I think affects the price the least is technological trends. If a business has a store and a website it really can't change its price so much. The price on the website must be almost identical to the store price. If it isn't then the customer will go to the store and buy it.
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