Question

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

Answer 1

Answer:

Money Paid

Overall Sacrifice

Explanation:

The two major dimensions of pricing are Monetary and Non- Monetary pricing.

Monetary pricing is the liquid asset like cash that is spent to acquire goods and services while the non monetary are other costs apart from money like time , stress , distance that it costs to acquire an item .

The individual perception of pricing has a way of affecting its choice when it comes to purchasing.

Earl did not consider the cost of stress in travelling 30 miles in order to save a $1 in his purchase decision as his mindset is programmed to the price paid being the real price  while most other customers considers the sacrifice involved before making a purchase decision.