Because Consumers Are Generally More Sensitive to Price Increases Than

question 132

True/False

Because consumers are generally more sensitive to price increases than to price decreases, it is easier to lose current customers with a price increase than it is to gain new customers with a price decrease.

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Definitions:

Technical Support

A service provided to assist users in solving specific problems with a product or service.

Buying Situation

The context or environment in which a purchase decision is made, including factors such as urgency, the nature of the need, and the buyer's specific circumstances.

Consumption Experience

The process and effect of using a product or service, encompassing the satisfaction, pleasure, or utility derived from it.

B₂B Marketing

B2B marketing, which is the process where one business sells its products or services to another business.