Businesses that use a customer-focused approach to pricing start by researching
A) the competition's pricing.
B) last year's prices.
C) new technological advancements.
D) customer perceptions of value.
E) seasonal volume fluctuations.

Question

Quizplus · Accepted Answer

Businesses that use a customer-focused approach to pricing start by researching customer perceptions of value. This means understanding what customers are willing to pay based on their perceived value of the product/service. Researching the competition's pricing and seasonal volume fluctuations may also be important, but these factors should not be the primary focus when using a customer-focused approach. Additionally, researching new technological advancements and last year's prices may not be as relevant to determining customer perceptions of value.

Businesses That Use a Customer-Focused Approach to Pricing Start by Researching