A customer's interpretation and response to a price depends on what the customer receives from a purchase compared with what she gives up to make the purchase.

Name: A customer's interpretation and response to a price depends on what the customer receives from a purchase compared with what she gives up to make the purchase.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This statement is true. Customer perception of price is shaped by their perceived value of the product or service compared to the cost of giving up their money to purchase it.

A Customer's Interpretation and Response to a Price Depends on What