Often consumers base their perception of price on what they perceive to be the customary or ________.
A) dynamic price
B) fair price
C) target price
D) list price
E) assimilated price

Question

Quizplus · Accepted Answer

Consumers often form their perception of price based on what they believe to be a fair price. This can be influenced by past experiences, competitor prices, and social norms. It is important for businesses to understand and consider these perceptions when setting prices to avoid alienating customers and losing sales.

Often Consumers Base Their Perception of Price on What They