Each generation of cell phones has provided greater clarity,range,security,and multifunctionality.If marketers of cell phones use these features as a basis for pricing,they would be using _______ pricing.
A) cost-based
B) EDLP
C) reference-based
D) improvement value
E) market-based

Question

Quizplus · Accepted Answer

Improvement value pricing is based on pricing the product based on the improvement it provides over the previous generation. In this case, the marketers are using the improvement in features such as clarity, range, security, and multifunctionality as a basis for pricing the new generation of cell phones.

Each Generation of Cell Phones Has Provided Greater Clarity,range,security,and Multifunctionality