Which of the Following Best Describes the Unique-Value Effect on Price

question 5

Multiple Choice

Which of the following best describes the unique-value effect on price sensitivity?

• A)Customers are less price-sensitive when there are no acceptable substitutes for a product.
• B)Customers are less price-sensitive when the purchase is necessary to gain full benefit from assets previously bought.
• C)Customers are less price-sensitive when their expenditure for the product or service is a relatively low proportion of their total income.
• D)Customers are less price-sensitive in the short run when they cannot store large quantities
• Of the product as a hedge against future price increases.

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Definitions:

Sales Message

A communication that is designed to persuade a potential customer to purchase a product or service.

Smartest Business Decision

A highly intelligent or wise choice made in the context of business operations, usually leading to significant positive outcomes.

Full Refund

The total amount of money returned to a customer for a product or service that did not meet the expected standards or satisfaction.

Reduced Rate

A discounted price offered from the regular cost of goods or services.