The Price of an Item Should Be

question 57

Multiple Choice

The price of an item should be:

• A)based solely on the break-even analysis.
• B)less than what the competition is charging.
• C)what purchasers are willing to pay.
• D)total costs plus a margin of profit.

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Definitions:

Customer Service

The help and counsel given by an enterprise to customers who acquire or employ its goods or services.

Service Dimension

Aspects that define the quality and nature of a service, including tangibility, reliability, responsiveness, assurance, and empathy towards customers.

Tangibles

Tangibles are physical items or assets that can be seen, touched, and quantified, often used to assess service quality in businesses.

Marketing of Services

Strategies and tactics used to promote and sell intangible services, as opposed to tangible goods.