Market focus group studies and surveys may be used by a firm to determine the price of a product or service.

Name: Market focus group studies and surveys may be used by a firm to determine the price of a product or service.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Conducting market focus group studies and surveys can help a firm gather information about the target market's perceptions and preferences regarding price points. This information can then be used to set an appropriate price for the product or service.

Market Focus Group Studies and Surveys May Be Used by a Firm