The importance of price depends on the type of product, the type of target market, and the purchase situation.

Question

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The importance of price can vary depending on the product, target market, and purchase situation. For example, price may be the most important factor for consumers shopping for basic commodities like food or household goods, but for luxury items, brand reputation or quality may be more significant. Similarly, the influence of price may differ depending on whether a purchase is impulsive or carefully planned, among other factors.

The Importance of Price Depends on the Type of Product