By focusing the customers on the price of a product,you
A)Increase your chances of engaging in a price war with your competitors
B)Make the customers more price sensitive to the product
C)Make the demand for the product more elastic
D)All of the above

Question

By focusing the customers on the price of a product,you
A)​Increase your chances of engaging in a price war with your competitors
B)Make the customers more price sensitive to the product
C)Make the demand for the product more elastic
D)​All of the above

Quizplus · Accepted Answer

By focusing on the price of a product, you create a price-oriented mindset in your customers which increases the chances of price wars with your competitors. It also makes customers more price-sensitive, so they will be more likely to look for cheaper alternatives. This, in turn, makes the demand for the product more elastic as customers are more likely to respond to changes in price. Therefore, all of the above options are correct.

By Focusing the Customers on the Price of a Product,you