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Questions and Answers
Which of the following is true about price perception?
Which of the following is true about price perception?
- Brands should always have the lowest prices
- Price perception is not important for brands
- Price perception does not affect sales
- Price perception can lead to losses for brands (correct)
What is the trade-off that brands often face when determining the right price?
What is the trade-off that brands often face when determining the right price?
- Competitor prices and customer satisfaction
- Margin and customer expectations
- Margin and price perception (correct)
- Price perception and customer loyalty
What strategy can brands use to make up for lowered prices on key products?
What strategy can brands use to make up for lowered prices on key products?
- Discount all products
- Identify key value categories and price them competitively (correct)
- Lower prices on all products
- Increase prices on all products
What largely determines consumers' experience with a brand?
What largely determines consumers' experience with a brand?
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What should brands selling online be mindful of regarding their prices?
What should brands selling online be mindful of regarding their prices?
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