Setting prices in a way that targeted customers perceive products to offer greater worth than competitive offerings is called _____.
A)target pricing
B)markup pricing
C)value pricing
D)everyday low pricing

Question

Quizplus · Accepted Answer

The term that describes setting prices in a way that targeted customers perceive products to offer greater worth than competitive offerings is "value pricing". Value pricing means that customers are willing to pay a higher price for products and/or services because they believe they are getting more value or better quality. Target pricing involves pricing products based on what customers are willing to pay, markup pricing involves adding a profit margin to the cost of a product, and everyday low pricing involves offering consistently low prices without promotional discounts or sales.

Setting Prices in a Way That Targeted Customers Perceive Products