Question

The _________________ assesses how likely a customer is to not purchase from one of the companies in the market but instead use one of the substitute products to accomplish their goals.

Answer 1

The price assesses how likely a customer is to not purchase from one of the companies in the market but instead use one of the substitute products to accomplish their goals.

Explanation:

Selling price is the price at which a product or service is sold to the buyer. However, cost price is the price that is incurred to produce a product or provide a service to the buyer. Formula to calculate selling price. The selling price is the sum total of the cost price and the profit margin set by the seller.

Price of a product highly influences the sale of the product because the consumers prefer to pay lesser price for a product which have close substitutes of the goods and commodities.