Price Should Be Based on the Value That the Customer

question 18

True/False

Price should be based on the value that the customer perceives.

---

Definitions:

Revenue

The income that a business receives from its normal business activities, usually from the sale of goods and services to customers.

Price Elasticity

An indicator of the degree to which demand for a product is affected by variations in its price, reflecting consumer sensitivity to price fluctuations.

Rock Concert

A live music performance featuring rock music by one or more artists or bands.

Tickets

Documents or electronic vouchers that grant the holder the right to enter an event, travel on public transport, or participate in an activity.