Local income levels are critical for the pricing of consumer products.

Name: Local income levels are critical for the pricing of consumer products.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Local income levels determine the purchasing power of consumers in a specific area. Companies need to take this into account when pricing their products, as pricing too high for a low-income area could result in low sales and pricing too low for a high-income area could result in lost profit.

Local Income Levels Are Critical for the Pricing of Consumer