Asked by Abhishek Chaudhary on May 23, 2024
Verified
In value-based pricing, the value of what differentiates a product from the best available alternative is known as the differentiation value.
Differentiation Value
The perceived value added to a product or service that makes it stand out from competitors.
- Comprehend the principle of value-based pricing and its utilization in setting sales prices.
Verified Answer
MS
Manpreet SinghMay 26, 2024
Final Answer :
True
Explanation :
This statement is true. Value-based pricing involves setting the price of a product based on the value it provides to the customer in comparison to the best available alternative. The differentiation value represents the specific features or benefits that make the product unique and more valuable than alternatives.
Learning Objectives
- Comprehend the principle of value-based pricing and its utilization in setting sales prices.
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