Asked by Caitlun Dwyer on Sep 24, 2024
Verified
Given that you observe nothing but the low price of the product,you are more likely to infer that
A) The product is high quality
B) The product is the highest quality possible
C) The product is low quality
D) None of the above
High Quality
Pertaining to products or services that meet or exceed customers' expectations, characterized by superior materials, workmanship, performance, and durability.
Low Price
A pricing strategy where goods or services are offered to customers at a price lower than the market average or competitors' prices.
- Identify the impact of market dominance and competitive forces on pricing strategies.
Verified Answer
LM
Lexis Miller3 days ago
Final Answer :
C
Explanation :
Observing only the low price of a product does not necessarily indicate that it is high quality or the highest quality possible. In fact, it is more likely to infer that the product is of low quality. Many low-priced products sacrifice quality in order to keep costs down and compete with higher-priced options. Therefore, option C is the most likely choice.
Learning Objectives
- Identify the impact of market dominance and competitive forces on pricing strategies.