Asked by Laura-Leigh Holley on Jul 03, 2024
Verified
Marketers should view pricing decisions as an opportunity to create value.
Pricing Decisions
The process of setting the price for a product or service, influenced by costs, competition, market demand, and perceived value.
Create Value
The process of enhancing a product or service's worth by improving its appeal to customers, thereby increasing its market value or consumer demand.
- Examine the influence of pricing decisions on adding value to the clientele and the enterprise.
Verified Answer
AA
Ahmed AbbasJul 10, 2024
Final Answer :
True
Explanation :
Pricing decisions are not just about setting a price; they are also about creating value for customers. Marketers can use pricing strategies such as discounts, bundling, and value-based pricing to create perceived value for customers and differentiate themselves from competitors. By considering the customer's willingness to pay and the value they place on the product or service, marketers can set pricing that maximizes profits while also providing value to the customer.
Learning Objectives
- Examine the influence of pricing decisions on adding value to the clientele and the enterprise.
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