Customers must see value in a product or service before they are willing to exchange time or money to obtain it,but not all customers see the same value in a product.To analyze how many units will be sold at any given price point,marketers draw on
A) a demand curve.
B) the law of averages.
C) multiple regression analyses.
D) target return strategies.
E) a sales orientation.

Question

Quizplus · Accepted Answer

To analyze the relationship between the price of a product and the amount customers are willing to purchase at that price, marketers use a demand curve. The demand curve shows the quantity of a product that consumers will buy at different price points. By analyzing this curve, marketers can determine the optimal price point for maximum sales and revenue. The other options, such as the law of averages and target return strategies, are not effective methods for analyzing demand and determining price points.

Customers Must See Value in a Product or Service Before