Probably the most important consideration a manufacturer has when setting the final price of its new exclusive perfume is:
A)the perfume's production cost.
B)competitor's prices.
C)the image the company wants to create for the scent in the customer's mind.
D)choosing between odd pricing and price lining.

Question

Quizplus · Accepted Answer

The image the company wants to create for the scent in the customer's mind is the most important consideration for setting the final price of a new exclusive perfume. The price of the perfume should reflect its perceived value in the minds of the customers, which is influenced by the brand image, packaging, advertising, and other factors that create a sense of luxury and exclusivity. The production cost and competitor's prices may be relevant factors, but they are secondary to the customer's perception of value. Odd pricing and price lining may be pricing strategies that could be used to reinforce the desired image, but they are not the primary consideration.

Probably the Most Important Consideration a Manufacturer Has When Setting