ENTREPRENEURIAL MARKETING
PRICING STRATEGIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Effective ____ pricing involves understanding how much value consumers place on the benefits they receive from the product and setting a price that captures that value.
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competition-oriented
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cost-based
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time-based
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customer-oriented
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Explanation:
Detailed explanation-1: -Answer37: (c ) Customer Oriented Effective customer oriented pricing involves understanding how much value consumers place on the benefits they receive from the product and selling a price that captures that value.
Detailed explanation-2: -So, the higher the perceived benefit and/or the lower the price of a product, the higher the customer value and the greater the likelihood that customers will choose that product.
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