Price is BEST described by which of the following?
A) It always expressed in Canada in dollars and cents.
B) It is also called revenue.
C) It based on the actual perception you will receive from your product.
D) It based on the expected value you will receive from your purchase.

Question

Quizplus · Accepted Answer

Price is based on the expected value that a customer will receive from their purchase. This means that it takes into account not only the actual cost of the product, but also the perceived benefits and value that the customer believes they will receive from using it. Price is not always expressed in dollars and cents and it is not the same as revenue, which is the total amount of money a company takes in from its sales.

Price Is BEST Described by Which of the Following