Which of the following approaches to pricing considers that customers may judge quality on the basis of price?
A) Demand-based pricing
B) Profit-based pricing
C) Competition-based pricing
D) Supply-based pricing
E) Cost-based pricing

Question

Quizplus · Accepted Answer

Demand-based pricing considers that customers may judge quality on the basis of price. This approach takes into account the perceived value of the product or service and sets the price accordingly, based on customer demand. It is also known as value-based pricing.

Which of the Following Approaches to Pricing Considers That Customers