Knowing the target market's evaluation of price allows the marketer to know how much emphasis to place on price and how to price a product relative to competition.

Question

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Knowing the target market's evaluation of price is crucial for a marketer to determine pricing strategies and how much emphasis to place on price in the marketing mix. It helps to create a pricing strategy that is commensurate with the target market's pricing expectations and preferences, and it also enables a business to develop pricing that is competitive with others in the market.

Knowing the Target Market's Evaluation of Price Allows the Marketer