teresagonzalez4399 teresagonzalez4399

16-11-2022
Business

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a price experiment: group of answer choices is a quick and efficient method to decide on a price for a product. is useful for obtaining data for a cost-oriented pricing strategy. is method of determining the most profitable price for a product. is a less accurate method of determining buyer response to price changes than a consumer panel. cannot be performed if the retailer uses pos terminals.

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shomerajeshwari90 shomerajeshwari90

25-11-2022

A price experiment is method of determining the most profitable price for a product. So, the correct option is (c).

Businesses can learn which pricing tactics their customers will truly respond to by conducting price experiments. There are several reasons why this is advantageous. First, because companies may discover pricing tactics that work for them and learn further about their customers.

Price is the sum of money customers are willing to spend on a thing. Marketers must consider supply chain costs, discount coupons, rival prices, and retail margin in addition to connecting the cost to the company's real and perceived value.

Business decision-makers sometimes increase a product's price to make it seem more upmarket or exclusive. To entice more clients to try it, they might also cut the price.

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