Question

Value-based marketing requires that firms charge a price that customers perceive as giving them a good value for the product they receive. true false

Answer 1

Answer:

True

Explanation:

Value-based marketing is a shift from product centered to customer centered approach. Customer values and ethics are the primary drivers of this strategy.

When value- based pricing is done, the customer's perception of the value of goods and services is taken into consideration.

This is different from basing price on product cost or historical price.