The ___________ of the service to the customer sets a ceiling to the price that may be charged.
A)costs
B)value
C)competitors price
D)elasticity
E)price

Question

Quizplus · Accepted Answer

The value of the service to the customer determines the maximum price that can be charged. If the price is higher than the perceived value, customers will not be willing to pay for the service. Therefore, the value of the service is a crucial factor in determining the price.

The ___________ of the Service to the Customer Sets a Ceiling