An increasing number of companies now base their price on the customer's ________ of their products.
A) usage
B) EDLP pricing
C) everyday value pricing
D) perceived value
E) value proposition

Question

Quizplus · Accepted Answer

Perceived value refers to the customer's subjective perception of the product's worth or value. Companies are now setting prices based on how much value they believe the product offers to customers, rather than simply based on production costs or competition. This approach is known as value-based pricing.

An Increasing Number of Companies Now Base Their Price on the Customer's