Which of the following holds true for the term "price"?
A)It refers to the tangible customer benefits that are produced by people or machines and can be separated from the producer.
B)It refers to the intangible customer benefits that are produced by people or machines and cannot be separated from the producer.
C)It refers to the overall sacrifice a consumer is willing to make in terms of money, time, and energy in order to acquire a specific product or service.
D)It refers to thoughts, opinions, philosophies, and intellectual concepts that also can be marketed.
E)It refers to the value a customer receives through the purchase of a company's product or service.

Question

Quizplus · Accepted Answer

"Price" refers to the amount of money, time, or energy (or all three) that a customer is willing to give up in order to purchase a product or service. The other answer choices do not accurately describe the meaning of the term "price."

Which of the Following Holds True for the Term "Price