Creative marketers engage in value-pricing, which is the practice of simultaneously __________ while maintaining or decreasing price.
A)decreasing product and service benefits
B)increasing product and service benefits
C)decreasing profit
D)analyzing benefits
E)decreasing cost

Question

Quizplus · Accepted Answer

Value-pricing involves increasing the value or benefits of the product or service while maintaining or even decreasing the price. This is done to attract price-sensitive customers and to differentiate from competitors. Option A is incorrect as decreasing benefits while decreasing prices would result in a lower perceived value. Option C is incorrect as the aim of value-pricing is to increase profits. Option D is incorrect as analyzing benefits is a part of the process of value-pricing but is not the actual practice. Option E is incorrect as decreasing costs is not the only aspect of value-pricing.

Creative Marketers Engage in Value-Pricing, Which Is the Practice of Simultaneously