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Explicit or implicit trade-offs between the perceived value

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Reference no: EM131337864

Consumers make explicit or implicit trade-offs between the perceived value of a product or service and its cost. Sometimes price is used as a statement of value. Customers seek exchanges giving them the greatest benefits at the lowest costs...most of the time.

Can you think of an exchange where the customer might seek a higher price, want a higher price, and be willing to pay the higher price?

Reference no: EM131337864

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