ENTREPRENEURIAL MARKETING
MARKETING MIX
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
The ____ is the amount the customer will pay for the product. The value of money or its equivalent placed on a good or service.
|
|
Price
|
|
|
Product
|
|
|
Place
|
|
|
Promotion
|
Explanation:
Detailed explanation-1: -Price is the amount a customer is willing to pay for a product or service. The cost of producing a product has a direct impact on both the price of the product and the profit earned from its sale.
Detailed explanation-2: -Customer based pricing is the practice of setting prices following the customers’ perceived value of a presented product or service. The strategy is also known as value based pricing.
Detailed explanation-3: -Value-based pricing is a strategy of setting prices primarily based on a consumer’s perceived value of a product or service. Value-based pricing is customer-focused, meaning companies base their pricing on how much the customer believes a product is worth.
There is 1 question to complete.