Pricing should be based in part on the value of the product perceived by the customer.

Question

Quizplus · Accepted Answer

Pricing strategy often takes into account the perceived value of a product or service by the customer. This is because customers are often willing to pay more for products or services that they perceive to be of higher value or quality. Therefore, businesses may choose to price their products higher if they believe that their customers will perceive them to be of high value.

Pricing Should Be Based in Part on the Value of the Product