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 the product.
D) economic strength of potential buyers.

Question

Quizplus · Accepted Answer

The amount that potential buyers are willing to pay is a key factor in pricing decisions, as businesses want to set prices that are high enough to generate profits, but not so high that they deter customers from making purchases. Factors like expected consumption rates, location, and economic strength may also impact pricing decisions, but to a lesser extent than the amount customers are willing to pay.

One of the Psychological Factors Affecting Pricing Decisions Is The