Pricing is based on which of the following:
A)the ability to pay within specific market segments
B)the price of competitive products
C)the value perceived by the customer
D)the cost of producing the item

Question

Quizplus · Accepted Answer

Pricing should be based on the value perceived by the customer. This means that the price should reflect the worth or benefit that customers receive from the product or service. Customers will be more likely to pay higher prices if they perceive higher value in the product. This is in contrast to basing prices on the ability to pay, the price of competitive products, or the cost of production, which may not accurately reflect the value that customers place on the product.

Pricing Is Based on Which of the Following