When a customer is considering the purchase of a product in a relatively unfamiliar product category, that individual is likely to rely more heavily on:
A)internal reference prices.
B)symbol prices.
C)high-value products.
D)discounted reference prices.
E)external reference prices.

Question

Quizplus · Accepted Answer

When a customer is unfamiliar with a product category, they are likely to rely on external reference prices, which are prices seen in the market for similar products. This helps the customer establish a benchmark for what to expect in terms of pricing and allows them to make an informed decision.

When a Customer Is Considering the Purchase of a Product