The Price-Value Formula

question 36

Multiple Choice

The price-value formula:

• A) tries to translate features into advantages and advantages into benefits.
• B) is the answer to "your price is too high" objection.
• C) is a description of the buyer's thinking process and an explanation of why price objection is heard so often.
• D) connects cost, value, and price. Cost and price can vary but value cannot.
• E) is generally used when the buyer is convinced that the buying the product is a good deal.

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Definitions:

Moral Hazard

A situation in economic transactions where one party is willing to take risks because the negative consequences of the risk will be borne by another party.

Health Care Insured

Refers to individuals or entities that are covered under a health insurance plan, providing financial protection against medical expenses.

Diet And Exercise

A combined approach of nutritional intake and physical activity designed to improve or maintain health and fitness.

Moral Hazard

A scenario where one party takes risks or does not have the motivation to mitigate risk because another party is responsible for the fallout.