Asked by Hannah Emmett on May 02, 2024
Verified
Consumers typically do not want the cheapest product available, they want the ______.
A) best product for the highest price
B) most reasonable product at the highest price
C) most reasonable product at the lowest price
D) best product for the most reasonable price
Reasonable Product
A product considered to meet a satisfactory standard in terms of quality, functionality, and price.
Cheapest Product
A product offered at the lowest possible price point, often as a strategy to attract cost-conscious consumers or gain market share.
- Understand the link between price, value, and consumer's view.
Verified Answer
ND
Natalie DeniseMay 07, 2024
Final Answer :
D
Explanation :
Consumers generally seek the best value for their money, which means finding the highest quality product at the most reasonable price, balancing cost with product quality and features.
Learning Objectives
- Understand the link between price, value, and consumer's view.
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