Which of the following sets the upper limit for a product's pricing?
A) profits
B) product costs
C) consumer perceptions of value
D) elements of the product mix
E) competition

Question

Quizplus · Accepted Answer

Consumer perceptions of value ultimately set the upper limit for a product's pricing because a product cannot be priced higher than what consumers are willing to pay based on their perceived value of the product.

Which of the Following Sets the Upper Limit for a Product's