One of the psychological factors affecting pricing decisions is the:
A)expected consumption rates of potential buyers.
B)location of potential buyers.
C)amount potential buyers will be willing to pay for a product.
D)economic strength of potential buyers.

Question

Quizplus · Accepted Answer

The amount potential buyers will be willing to pay for a product is a key psychological factor that affects pricing decisions. Different buyers may have different perceptions of the value of a product based on a range of personal and situational factors. Therefore, companies need to consider the psychology of pricing to determine the optimal price points that will maximize revenue and profitability.

One of the Psychological Factors Affecting Pricing Decisions Is The