Supposed a firm is customer-driven and seeks to understand the attributes customers want in the goods and services they buy and the value customers contribute to those attributes.The firm sets the price of the product at a level that seems to the customer to be a good price compared with the prices of other options.What is this pricing?
A) price
B) value-based
C) market concept
D) noncumulative

Question

Quizplus · Accepted Answer

This pricing strategy is known as value-based pricing, where the firm considers the perceived value of the product or service by the customer in setting the price, rather than just basing it on production costs or competitor prices. The focus is on creating value for the customer and capturing a fair share of that value in the form of profits.

Supposed a Firm Is Customer-Driven and Seeks to Understand the Attributes