Price is the _____________ a consumer is willing to make to acquire a specific product or service. quizlet
Price is the overall sacrifice a consumer is willing to make to acquire a specific product or service. Price includes not just the financial amount, but also the time and effort a consumer must sacrifice for the product or service. Marketing County Coffee offers most products at a reasonable price for purchase. Marketing Mix: Pricing. Price is the overall sacrifice a consumer is willing to make to acquire a specific product or service. Price includes not just the financial amount, but also the time and effort a consumer must sacrifice for the product or service. DEFINITION of 'Perceived Value'. The worth that a product or service has in the mind of the consumer. The consumer's perceived value of a good or service affects the price that he or she is willing to pay for it. The consumer's perceived value of a good or service affects the price that he or she is willing to pay for it. For the most part, consumers are unaware of the true cost of production for the products they buy. DEFINITION of 'Perceived Value'. The worth that a product or service has in the mind of the consumer. The consumer's perceived value of a good or service affects the price that he or she is willing to pay for it. For the most part, consumers are unaware of the true cost of production for the products they buy. The consumer's perceived value of a good or service affects the price that he or she is willing to pay for it. The consumer's perceived value of a good or service affects the price that he or she is willing to pay for it. For the most part, consumers are unaware of the true cost of production for the products they buy. Instead, they simply have an internal feeling for how much certain products are worth to them. The degree to which the price of a product affects consumers purchasing behaviors. The degree of price sensitivity varies from product to product and from consumer to consumer. In economics, price sensitivity is commonly measured using the price elasticity of demand. The price you charge for your product or service is one of the most important business decisions you make. Setting a price that is too high or too low will-at best-limit your business growth. At worst, it could cause serious problems for your sales and cash flow. DEFINITION of 'Price Sensitivity'. The degree to which the price of a product affects consumers purchasing behaviors. The degree of price sensitivity varies from product to product and from consumer to consumer. In economics, price sensitivity is commonly measured using the price elasticity of demand.
overall sacrifice