Marketers must determine the price of a product carefully based on the potential buyer's beliefs about
A)its value.
B)the environment.
C)the cost to manufacture the product.
D)the economic outlook.
E)the product's new advertising campaign.

Question

Quizplus · Accepted Answer

The price of a product should be based on the potential buyer's beliefs about its value. This means that the price should reflect the perceived worth of the product to the buyer, rather than simply the cost to manufacture it or the current economic outlook. Marketers must understand the value proposition of their product and price it accordingly to ensure it is perceived as valuable by potential buyers.

Marketers Must Determine the Price of a Product Carefully Based