Protectnow,Inc.is a company that sells insurance.Which of the following is an example of a demographic factor that would be relevant to Protectnow's pricing decisions?
A) The position of its potential buyers
B) The types of insurance it sells
C) The fact that its potential buyers use price as an indicator of product quality
D) The prestige orientation of its potential buyers

Question

Quizplus · Accepted Answer

Demographic factors that are particularly important for pricing decisions include the position of potential buyers (organizational buyers or final consumers). The prestige orientation of potential buyers and whether potential buyers use price as an indicator of product quality are psychological factors influencing pricing decisions. The type of products that a company sells refers to the nature of products influencing pricing decisions.