Using value-based pricing, a marketer would not design a product and marketing program before setting the price.

Question

Quizplus · Accepted Answer

In value-based pricing, the marketer first determines the value that the customer places on the product and then designs the product and marketing program accordingly, thereby setting the price based on the perceived value to the customer. Therefore, the price is determined before designing the product and marketing program.

Using Value-Based Pricing, a Marketer Would Not Design a Product