9 Questions
Pricing services is a simple task compared to pricing goods.
False
Service providers base their prices on the cost of goods sold.
False
Consumers always know the actual price they will pay for a service before it is completed.
False
The demand for services tends to be more elastic than the demand for goods.
False
Service consumers are more likely to use price as an indicator of quality.
True
Comparing prices of competitors is easier for service consumers.
False
Self-service is not considered a competitive alternative in the service sector.
False
There are fewer different names for price in the service sector compared to the goods sector.
False
Consumers can easily stockpile services by taking advantage of discount prices.
False
Test your knowledge on pricing services with this True or False quiz. Explore the complexities of setting prices for services compared to goods, understanding consumer behavior, and challenges faced by service providers in determining prices.
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