An increasing number of companies now base their price on the customer's ________ of their products.
A) value proposition
B) everyday value pricing
C) perceived value
D) usage
E) EDLP pricing

Question

Quizplus · Accepted Answer

Perceived value refers to how much the customer believes a product is worth based on their own perceptions and expectations. More and more companies are using this approach to pricing, rather than simply setting prices based on production costs or competitor prices. This allows them to charge more for products that are perceived as high-quality or valuable, while potentially offering discounts or promotions for items that are perceived as more basic or affordable.

An Increasing Number of Companies Now Base Their Price on the Customer's