Which of the following statements is true?
A)The more value that a product gives compared to the competition, the price should be the same as competitors' prices
B)The less value that a product gives compared to the competition, the higher the price that can be charged
C)The more value that a product gives compared to the competition, the lower the price that can be charged
D)The more value that a product gives compared to the competition, the higher the price that can be charged

Question

Quizplus · Accepted Answer

The more value that a product gives compared to the competition, the higher the price that can be charged. This is because customers are willing to pay more for a product that offers them greater benefits and value. Companies that can differentiate their products from competitors and provide higher value can command a premium price.

Which of the Following Statements Is True