Which of the following is a characteristic of price makers?
A) Customers see real or perceived differentiated quality/innovation in the product/service.
B) Firms must carefully control costs of the product/services since the price cannot be easily adjusted.
C) Competition exists in the market for comparable product/service with firms striving for market leadership.
D) Customers see little differentiation in the product/service being offered.

Question

Quizplus · Accepted Answer

Price makers have the ability to influence the price of their products or services, often due to differentiated quality or innovation that sets them apart from competitors, making option A correct.

Which of the Following Is a Characteristic of Price Makers