One of the most important determinants of customers' response to a price is whether they perceive the price to be a fair exchange ________.
A)compared to what they have paid in the past
B)regardless of their actual experience with the product
C)based on their expectation, not reality
D)for the value they receive from the product or service

Question

Quizplus · Accepted Answer

Customers are more likely to be satisfied with a price if they feel that it is a fair exchange for the value they receive from the product or service. This means that they are considering the actual benefits they receive from the product, rather than just comparing the price to what they have paid in the past or their expectations.

One of the Most Important Determinants of Customers' Response to a Price