In General,prices Should Not Be Based on Costs Because Consumers

question 95

True/False

In general,prices should not be based on costs because consumers make their purchase decisions based on perceived value,not the cost of production.

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Definitions:

Linked Prosperity

A business philosophy that emphasizes creating economic value in a way that also produces value for society by addressing its challenges.

ISO 9000

A set of international standards on quality management and quality assurance developed to help companies effectively document the quality system elements to be implemented to maintain an efficient quality system.

Mission-Driven

An approach or organization focused on achieving a specific goal or purpose, particularly in terms of social or environmental impact.

Unique Customer Experience

This involves creating a distinctive and memorable interaction or journey for the customer with a brand, product, or service, aimed at fostering loyalty and satisfaction.