Podcast
Questions and Answers
What may happen if a company prices a product high in comparison to the perceived benefits?
What may happen if a company prices a product high in comparison to the perceived benefits?
- Missed opportunities to sell at a higher volume (correct)
- Increased market share
- Enhanced customer loyalty
- Decreased market share due to competitor loss
What term is used to describe pricing a product high in relation to the expected benefits?
What term is used to describe pricing a product high in relation to the expected benefits?
- Value proposition
- Pricing error (correct)
- Market segmentation
- Competitive pricing
How can pricing a product too high still be effective in capturing profits?
How can pricing a product too high still be effective in capturing profits?
- By reducing production costs
- By targeting premium customers exclusively
- By offering superior benefits along unmeasured dimensions (correct)
- By increasing market share
What is the suggested strategy when products are priced too high for different buyer segments?
What is the suggested strategy when products are priced too high for different buyer segments?
For which type of buyer is the Bentley Silver Spur priced too high in the text?
For which type of buyer is the Bentley Silver Spur priced too high in the text?
What is the executive approach recommended for constructing Price to Benefits Maps?
What is the executive approach recommended for constructing Price to Benefits Maps?
What approach involves plotting products based on mean perceived price and mean perceived benefits?
What approach involves plotting products based on mean perceived price and mean perceived benefits?
Why may a customer place an expected price on a product that does not align with the actual price?
Why may a customer place an expected price on a product that does not align with the actual price?
What is a common error when making a Price to Benefits map?
What is a common error when making a Price to Benefits map?
Which factor can affect the perception of benefits by customers based on the text?
Which factor can affect the perception of benefits by customers based on the text?
What is a challenge that can arise from promotional discounts and couponing according to the text?
What is a challenge that can arise from promotional discounts and couponing according to the text?
What type of goods are mentioned as having poorly perceived benefits prior to purchase?
What type of goods are mentioned as having poorly perceived benefits prior to purchase?
