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The Difference Between the Price Consumers Are Willing to Pay

question 79

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The difference between the price consumers are willing to pay and the
Price that they actually pay is known as:


Definitions:

Price Differentials

The variation in the price of goods or services when compared across different markets, sellers, or buying conditions.

Price-insensitive Product

A product for which demand does not significantly change with a price increase or decrease, often due to its unique value or lack of alternatives.

Product-line Pricing

A marketing strategy that manages the prices of multiple products within the same product range.

Bundle Pricing

A pricing approach where several items or services are bundled and offered for sale at one price.

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