Mastering Customer Price Perception
5 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

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?

  • 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?

  • 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?

    <p>Price fairness</p> Signup and view all the answers

    What should brands selling online be mindful of regarding their prices?

    <p>There can be a disconnect between prices and customer expectations</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser