A price experiment
A) is a method of determining the most profitable price for a product.
B) cannot be performed if the retailer uses POS terminals.
C) is a less accurate method of determining buyer response to price changes than a consumer panel.
D) is useful for obtaining data for a cost-oriented pricing strategy.
E) is a quick and efficient method to decide on a price for a product.

Question

Quizplus · Accepted Answer

A pricing experiment is a process that can be used to measure the price sensitivity of customers on products. It helps to determine the most profitable price for a product.

A Price Experiment