Value-based pricing methods include approaches to setting prices that focus on the overall value of the product offering
A) when the product is produced.
B) as recognized by competitors.
C) as perceived by the consumer.
D) in order to minimize bundling charges.
E) relative to production costs.

Question

Quizplus · Accepted Answer

Value-based pricing methods aim to set prices based on the value perceived by the consumer rather than production costs or competitor pricing. The focus is on the overall value of the product offering, which is determined by the benefits and satisfaction the product provides to the customer.

Value-Based Pricing Methods Include Approaches to Setting Prices That Focus