Marketers Must Determine the Price of a Product Carefully on the Basis

question 59

Multiple Choice

Marketers must determine the price of a product carefully on the basis of the potential buyer's beliefs about

• A) its value.
• B) the environment.
• C) the cost to manufacture the product.
• D) the economic outlook.
• E) the product's new advertising campaign.

---

Definitions:

Marginal Utility

The extra pleasure or advantage gained from using another unit of a product or service.

Utility

A measure of satisfaction or pleasure that a consumer obtains from consuming goods and services.

Coffee

A brewed drink prepared from roasted coffee beans, the seeds of berries from certain Coffea species, consumed worldwide for its stimulating effects.

Donuts

A sweet, fried or baked pastry often shaped in rings or filled with various sweet fillings.