Price should be based on the value that the customer perceives.

Name: Price should be based on the value that the customer perceives.
Brand: Quizplus
Rating: 4.9 (26 reviews)

Question

Quizplus · Accepted Answer

Price should not be based solely on the cost of production or the competition, but on the value that the customer perceives for the product or service. This means understanding the benefits and features that are important to the customer and pricing accordingly. Ultimately, the customer's willingness to pay determines the value of the product or service.

Price Should Be Based on the Value That the Customer