As the price of a product gets closer to customer value,

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As the price of a product gets closer to customer value, the price elasticity will increase. This is because when the product comes closer to the customer's perceived value, the customer becomes more sensitive to price changes and tends to switch to other products if they are available at a lower price or if they perceive them to be of better value. Therefore, the demand becomes more elastic, leading to a higher price elasticity of demand.

As the Price of a Product Gets Closer to Customer