How do customers influence pricing decisions?
A)By substituting a more expensive product.
B)By using credit cards instead of cash.
C)By substituting a less expensive product.
D)None of the answers is correct.

Question

Quizplus · Accepted Answer

Customers can influence pricing decisions by choosing to substitute a less expensive product. This forces businesses to adjust their prices in order to remain competitive and maintain their customer base. A decrease in demand for a particular product may also lead to a reduction in price.

How Do Customers Influence Pricing Decisions