The cost of a product may be reduced by holding price constant and increasing the value.

Name: The cost of a product may be reduced by holding price constant and increasing the value.
Brand: Quizplus
Rating: 5.0 (37 reviews)

Question

Quizplus · Accepted Answer

By increasing the value of a product, it can create a perception of higher quality or additional features, which may justify a higher price point for the consumer. This can allow the manufacturer to maintain the same price while reducing production costs, resulting in a lower cost for the product.

The Cost of a Product May Be Reduced by Holding