To Increase Value Marketers May _________, Decrease Price, or Both

question 340

Multiple Choice

To increase value marketers may _________, decrease price, or both increase benefits and decrease price.

• A)decrease benefits and increase price
• B)decrease both price and benefits
• C)decrease benefits
• D)increase benefits
• E)do nothing and let the perceived value of the item increase as it matures in the life cycle

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Definitions:

Pounds

A unit of mass or weight commonly used in the British imperial and United States customary systems.

Materials Price Variance

The difference between the actual cost and the standard cost of materials used in production, multiplied by the quantity of materials used.

Standard Price

A pre-determined cost assigned to goods and services, used as a benchmark in budgeting and variance analysis.

Pounds

A unit of weight commonly used in the British imperial and United States customary measurement systems.