Which of the following is a psychological factor affecting pricing decisions?
A)The expected consumption rates of potential buyers
B)The location of potential buyers
C)The likelihood of potential buyers using price as an indicator of quality
D)The economic strength of potential buyers

Question

Quizplus · Accepted Answer

The likelihood of potential buyers using price as an indicator of quality is a psychological factor that affects pricing decisions. This refers to the perception that consumers have of a product's quality based on its price. Marketers often use this to their advantage by pricing their products higher to give off an impression of higher quality.

Which of the Following Is a Psychological Factor Affecting Pricing