When a customer is considering the purchase of a product in a less-familiar product category, that individual is likely to rely more heavily on
A) internal reference prices.
B) symbol prices.
C) high value products.
D) discounted reference prices.
E) external reference prices.

Question

Quizplus · Accepted Answer

When a customer is considering the purchase of a product in a less-familiar product category, they are likely to rely more heavily on external reference prices, such as pricing information from similar products and competitive brands. This allows them to evaluate the value of the product and make a more informed purchase decision. Internal reference prices (A) may not be applicable in this situation as the customer may not have prior experience with the product category, while symbol prices (B) and high value products (C) may not necessarily provide relevant pricing information. Discounted reference prices (D) may also not be applicable if the customer is unfamiliar with the product category and therefore may not view discounts as significant.

When a Customer Is Considering the Purchase of a Product