generalizations about what kinds of products tend to be price inelastic across different product categories such as foods, services, personal items, and utilities
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Make generalizations about what kinds of products tend to be price inelastic across different product categories such as foods, services, personal items, and utilities.
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- Describe information that consumers may perceive from price. For example, some consumers think that if an item has a high price, then it will probably be better than its competitors. That may or may not be true.How to Establish price goals?One of the four Ps of marketing is price. Explain what elements are involved in price besides the amount of money a customer pays for a product. In your answer, be sure to consider the concept of customer value