Which of the following statements about price is true?
A) Price can relate to anything with perceived value,not just money.
B) Price is that which is given up in an exchange to acquire a product.
C) Customers are interested in obtaining a perceived reasonable price.
D) The price paid is based on the satisfaction consumers expect to receive from a product.
E) All of the above statements about price are true.

Question

Quizplus · Accepted Answer

All of the statements listed are true about price. Price is not just related to money but also relates to the perceived value of a product or service. Price is what is given up in an exchange to acquire a product, and customers are interested in obtaining a reasonable price for the product or service they are purchasing. Ultimately, the price paid is based on the satisfaction consumers expect to receive from a product or service they are purchasing.

Which of the Following Statements About Price Is True