Which of the following statements provides the broadest, most complete definition of price?
A) the value of the product, as defined by the marketer, and displayed on the price tag
B) the amount charged for a product or service
C) the sum of the values consumers exchange for the benefits of having or using the product or service
D) the costs associated with the consumer's acquisition and ownership of a product

Question

Quizplus · Accepted Answer

Option C provides the most comprehensive definition of price, as it includes not only the amount charged by the marketer but also the perceived value of the product by the consumer and the benefits they derive from it. Options A and B are too narrow, as they only focus on the marketer's perspective or the actual amount charged. Option D is incorrect, as it refers to the costs associated with consumers' acquisition and ownership, rather than the price itself.

Which of the Following Statements Provides the Broadest, Most Complete