Value pricing is not a matter of simply setting lower prices; it is a matter of reengineering the company's operations to become a low-cost producer without sacrificing quality and lowering prices significantly to attract a large number of ________ customers.
A) expert
B) price-orientated
C) value-conscious
D) product-orientated
E) none of the above

Question

Quizplus · Accepted Answer

Value pricing is about targeting value-conscious customers who seek high quality at a reasonable price. These customers are not solely focused on the lowest price, but on the overall value they receive for their money. This requires the company to reengineer its operations to become a low-cost producer without sacrificing quality, and then offering prices that are attractive to value-conscious customers. Therefore, option C, value-conscious customers, is the best choice. Options A, B, and D are not the best choices as they do not accurately describe the target market for value pricing.

Value Pricing Is Not a Matter of Simply Setting Lower