Marketers must consider non-monetary costs to consumers such as social cost and financial risk when developing their ________ strategies.

Question

Quizplus · Accepted Answer

Pricing strategies involve determining the monetary value of a product or service, but also involve non-monetary costs that consumers may consider when deciding whether to make a purchase. Social costs include the potential embarrassment or social stigma associated with a product, while financial risk refers to the potential financial loss that may occur if a product does not meet expectations or fails to deliver the promised benefits. Therefore, marketers must consider these non-monetary costs to consumers when developing pricing strategies.

Marketers Must Consider Non-Monetary Costs to Consumers Such as Social