The Best Source of Information for Marketers Regarding How High

question 90

Multiple Choice

The best source of information for marketers regarding how high they can price a product before customers stop considering the product a good value comes from

• A)sales forecasts.
• B)the advertising staff.
• C)salespeople.
• D)historical pricing data.
• E)customer service personnel.

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Definitions:

Customized Products

Goods that are tailored or modified to meet the specific wants or needs of individual customers or clients.

Cost-Effective

Describes a process, method, or system that provides the best possible outcome or value for the money spent.

Potential Consumers

Individuals or groups who are likely to buy a product or service but have not yet made the purchase.

Retail Price

The total cost that a customer pays for a product or service when purchased through a retail channel, including overheads and profit margins.