Managers should consider the price sensitivity of the target market when setting prices.

Business

1 answer:

UkoKoshka [18]1 year ago

4 0

True. Managers should consider the price sensitivity of the target market when setting prices.

<h3>What is meant by price sensitivity?</h3>

The degree to which demand fluctuates as a product's or service's price changes is known as price sensitivity. The price elasticity of demand, which implies that certain buyers won't pay more if a lower-priced choice is available, is a typical method for measuring price sensitivity.

By dividing the percentage change in quantity demanded by the percentage change in price, one can calculate price sensitivity. Sensitivity in finance refers to how much a market instrument will change in response to changes in underlying factors, most frequently in terms of how its price will move in response to other circumstances.

Read more on price sensitivity here: brainly.com/question/11715656

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Managers should consider the price sensitivity of the target market when setting prices.

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