Setting prices in a way that targeted customers perceive products to offer greater worth than competitive offerings is called _____ pricing.
A) target
B) markup
C) value
D) everyday low

Question

Quizplus · Accepted Answer

Value pricing involves setting prices in a way that makes customers perceive the product as offering greater worth than competitive offerings. It is based on the idea that customers are looking for products that offer the best value for their money, rather than just the lowest price. Target pricing involves setting prices based on the target market's perceived value of the product, while markup pricing involves adding a fixed percentage to the cost of a product to determine its selling price. Everyday low pricing involves setting prices consistently low over time, rather than offering frequent sales or discounts.

Setting Prices in a Way That Targeted Customers Perceive Products