A creative brand that differentiates its product in a competitive market
A)can get a price premium for its product.
B)sets the benchmark price.
C)avoids nonprice competition.
D)will achieve the basic list price for its product.
E)can move toward a flexible pricing strategy.

Question

Quizplus · Accepted Answer

In a competitive market,creative brands differentiate and charge a higher price to reflect the additional value customers place on the differentiation.The value customers perceive can be measured as price premium-the percentage by which a price exceeds (or falls short of)a benchmark price.

A Creative Brand That Differentiates Its Product in a Competitive