When firms want to influence the perceived value of one of its products among customers,which of the following strategies is typically used as a last resort?
A) Increasing the existing dimensions of the product
B) Decreasing the rating for a competitive product
C) Adding a new dimension to the product
D) Increasing the performance of the product
E) Decreasing the price of the product

Question

Quizplus · Accepted Answer

Decreasing the price of the product is typically used as a last resort because it can have negative implications for the profitability of the firm. However, it can be an effective way to influence perceived value for customers who are price-sensitive. The other options listed are all strategies that can be used to enhance perceived value, but they may not be a last resort.

When Firms Want to Influence the Perceived Value of One