A strategy of setting prices based on how customers develop their perceptions of value can often be the most effective pricing strategy,especially if the strategy
A) leads the marketer to being the low-cost seller.
B) is supported by consistent advertising and distribution strategies.
C) challenges consumers to discard their perceptions of value.
D) is consistent with a competitive target return strategy.
E) does all of these.

Question

Quizplus · Accepted Answer

Setting prices based on how customers develop their perceptions of value requires consistent advertising and distribution strategies to reinforce the perceived value of the product to the customer. While being the low-cost seller can be a pricing strategy, it is not necessarily the most effective in all situations. Challenging consumers to discard their perceptions of value can be risky and may not always be successful. Additionally, while a competitive target return strategy can be effective, it is not necessarily the same as a value-based pricing strategy. Therefore, option B is the best choice as it highlights the importance of consistent advertising and distribution strategies to reinforce perceived value.

A Strategy of Setting Prices Based on How Customers Develop