Value- Based Pricing Uses the Company's Perception of Value

question 26

True/False

Value- based pricing uses the company's perception of value.

---

Definitions:

Mimicry

The action or art of imitating someone or something, often used as a learning method or survival mechanism.

Compensation

The total amount of the monetary and non-monetary pay provided to an employee by an employer in return for work performed as required.

Differentiation

A strategy used by businesses to distinguish their products or services from competitors', often through quality, innovation, or customer service.

Lag

A delay or time taken for a process or variable to adjust after a change in another variable or the initiation of a process.