Customers interpretations and responses regarding a product, Ask an Expert

Management Studies

Customers' interpretations and responses regarding a product and its price are an important influence on marketers' pricing decisions. Perceptions of price are affected by the degree to which customers are value conscious, price conscious, or prestige sensitive.

Discuss how these factors influence the buying decision process for the following products:

a. A new house

b. Weekly groceries for a family of five

c. An airline ticket

d. A soft-drink from a vending machine

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M92058643

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