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Victoria Foxworth
on Nov 20, 2024

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Frank was known for driving 30 miles just to save a dollar on the price of his favorite beverage. Frank perceived price as ________ for a good or service, while most consumers recognize price as the ________ made to acquire a good or service.

A) the money paid; overall sacrifice
B) a variable cost; fixed cost
C) a fixed cost; variable payment
D) the overall sacrifice; monetary payment
E) the break-even amount; total cost

Perceived Price

The customer's view of the value of a product or service, which may differ from its actual price, influenced by quality, brand, and other factors.

Overall Sacrifice

The total cost that a consumer perceives when purchasing a product or service, including money, time, and effort.

Monetary Payment

The process of transferring money, or its equivalent, from one party to another as compensation for goods or services provided.

  • Comprehend the role of price in the marketing mix and its relationship with perceived value, cost, and consumer purchasing behavior.
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Meteib MadhiNov 27, 2024
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