The article describes the results of a study of the influence of various factors on pricing in modern market conditions. Effective pricing policy plays a crucial role in ensuring the competitiveness and profitability of business entities. Maximizing income is one of the main goals of business entities. However, earning income depends on the effectiveness of the company’s pricing policy. If the price of a product is too high, consumers will purchase it from competing companies. Underestimating the price of a product in comparison with competing products can cause potential buyers to distrust the product of this company. The psychological factor “it doesn’t happen cheap and good at the same time” is triggered here. Therefore, the management of business entities must constantly remember to balance price and quality, the price of their goods, and the prices of competitors’ goods. The main factors influencing the price level are supply and demand. The higher the price, the lower the demand, and the higher the supply. Therefore, one of the main tasks that the management of commercial enterprises solves is determining a fair price for a product. The article defines a fair price and considers the methods of its establishment. The most effective method is mathematical modelling. The article shows characteristic mathematical models describing the behaviour of market participants. Special attention is to the cobweb model, which gives a complete picture of the tendency of the price of a product to a state of market equilibrium. Of course, the system of factors influencing the pricing strategy is much broader, so the author recommends including other methods in the pricing methodology, for example, demand-oriented pricing, cross-elasticity, and an econometric approach to price forecasting. These and other techniques, taking into account the specifics of the market of goods (or services) under consideration, can be used to build mathematical models describing changes in the result (price) when influencing factors change. Mathematical modelling allows the management of business entities to make informed decisions regarding the prices of goods.