Price Framing Would Be Used When the Customer Defines Value

question 23

Multiple Choice

Price framing would be used when the customer defines value as:

• A) All that is received for all that is given
• B) Superior quality
• C) Quality for the price paid
• D) Everything wanted in a service
• E) Low price

---

Definitions:

Environmental Scanning

The process of collecting, scrutinizing, and utilizing information about events, trends, and relationships in an organization's external environment.

New-product Ideas

Concepts or proposals for new goods or services that a company can potentially develop and offer to the market.

Concept Test

An evaluation process that involves presenting an idea for a product or service to a target audience to determine its feasibility and the potential interest of consumers.

Cross-functional New-product Development Team

A group comprising members from different departments working together to develop a new product.