ENTREPRENEURIAL MARKETING
PRICING STRATEGIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What most consumer would pay?
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Reservation price
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Lower-Bound Price
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Upper-Bound Price
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Cheap
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Explanation:
Detailed explanation-1: -The reservation price is defined as the maximum price that a consumer is willing to pay for a particular product or service. Furthermore, it is also the minimum price that a seller of a particular product or service is willing to accept.
Detailed explanation-2: -If a consumer believes they are getting a good deal, then lower prices can help get you the sale. On the other hand, low prices can also give the impression that the product is of low quality.
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