Which of the following is true about the target market's evaluation of price?
A) The importance of price depends on the unemployment rate.
B) The importance of price depends on the type of product.
C) The importance of price does not depend on the target market.
D) The target market's perception of value combines a product's price and size attributes.
E) The target market's perception of value combines a product's price and availability attributes.

Question

Quizplus · Accepted Answer

The importance of price varies based on the type of product being sold. For example, consumers may be willing to pay more for luxury goods but are likely more price-sensitive when purchasing everyday items. Therefore, it is important to consider the type of product when evaluating the target market's evaluation of price.

Which of the Following Is True About the Target Market's