In setting prices for products and services, too high a price may <u>A. deter a customer</u> from purchasing a product, causing them to seek alternatives.
<h3>What are the factors involved in setting prices?</h3>
When setting prices of goods and services, managers should consider these factors:
- Production costs
- Organizational goals
- Marketing Objectives
- Marketing Mix Strategy
- The Market demand
- Competitors' costs, prices, and offers
- Price and Value perception of consumers.
<h3>Answer Options:</h3>
A. deter a customer from purchasing a product and seek alternatives
B. decrease a competitor's market share
C. indicate supply is too plentiful
D. increase demand and demand for the product.
Thus, in setting prices for products and services, too high a price may <u>A. deter a customer</u> from purchasing a product, causing them to seek alternatives.
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