ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Price is the most important factor when purchasing all types of shopping goods.
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true
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false
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -For price-based shopping goods, consumers judge product attributes to be similar and look around for the least expensive item/store.
Detailed explanation-2: -Price is perhaps the most important component of the marketing mix because it ultimately determines the income flow, and with it, the continuity of a company.
Detailed explanation-3: -The most important factor affecting the price of a product is the product cost. The same principle also applies in case of services. The product cost will be inclusive of the cost of production, the distribution costs and the selling and promotion costs.
There is 1 question to complete.