Regarding price changes,consumers tend to be
A) relatively insensitive to any price change.
B) equally responsive to price increases and to price decreases.
C) more responsive to price decreases than to price increases.
D) only responsive to price changes when elaboration is high.
E) more responsive to price increases than to price decreases.

Question

Quizplus · Accepted Answer

Consumers are typically more sensitive to price decreases than to price increases. This is because price decreases signal a potential bargain or value for money, while price increases can be seen as unfair or exploitative. Therefore, consumers may be more likely to switch to a cheaper brand or product if the price decreases, but may be less likely to switch to a more expensive brand if the price increases.

Regarding Price Changes,consumers Tend to Be