ENTREPRENEURSHIP

ENTREPRENEURIAL MARKETING

PRICING STRATEGIES

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Consumers perceptions of the product’s value set the ceiling; demand set a floor to a product’s price.
A
TRUE
B
FALSE
C
Either A or B
D
None of the above
Explanation: 

Detailed explanation-1: -Consumers perceptions of the product’s value set the ceiling; demand set a floor to a product’s price. Overhead cost is another term for variable cost. In industrial markets, salespeople outrank top management in determining the sales price of products, as well as pricing objectives and policies.

Detailed explanation-2: -Cost-based pricing involves setting prices based on consumer perception of value. TRUE OR FALSE? FALSE.

Detailed explanation-3: -Customer value-based pricing uses buyers’ perceptions of value, not the seller’s cost, as the key to pricing.

There is 1 question to complete.