Value pricing is not a matter of simply setting lower prices; it is a matter of reengineering the company's operations to become a low-cost producer without sacrificing quality; and lowering prices significantly to attract a large number of ________ customers.
A) price-orientated
B) image-oriented customers
C) expert customers
D) product-orientated customers
E) value-conscious

Question

Quizplus · Accepted Answer

Value pricing is about attracting value-conscious customers who prioritize getting quality products for the lowest price possible. This requires the company to reengineer its operations to become a low-cost producer while maintaining the same level of quality. Therefore, option E, value-conscious customers, is the best choice. Options A, B, C, and D do not accurately describe the type of customers that value pricing is aimed at.

Value Pricing Is Not a Matter of Simply Setting Lower