Which of the following statements about consumer demand as a pricing constraint is most accurate?
A)The number of potential buyers for the product class has little effect on the price a seller can charge.
B)The number of potential buyers for the product affects the price a seller can charge,but only if the product is a luxury item.
C)The number of potential buyers for the product affects the price a seller can charge,but only if the product is a necessity item.
D)The number of potential buyers for the brand affects the price a seller can charge in the growth stage of a product life cycle,but not in the introductory stage.
E)In general,the demand for a product affects the price a seller can charge.

Question

Quizplus · Accepted Answer

In general, consumer demand affects the price a seller can charge. The more demand there is for a product, the higher the price a seller can charge. However, there may be other factors that influence pricing as well, such as competition and production costs. Therefore, while consumer demand is an important pricing constraint, it is not the only one.

Which of the Following Statements About Consumer Demand as a Pricing