Consumers will base their judgments of a product's value on the prices that competitors charge for similar products.

Name: Consumers will base their judgments of a product's value on the prices that competitors charge for similar products.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Consumers often compare prices of similar products before making a purchase, and use this information to assess a product's value. This makes competitor pricing an important factor in consumer decision making.

Consumers Will Base Their Judgments of a Product's Value on the Prices