Mkt exam 3 qa Study guides, Class notes & Summaries

Price - Answer- the overall sacrifice a consumer is willing to make to acquire a specific product or service Ex: Time, money, driving, opportunity costs, etc. Characteristics of the Price "P" - Answer- - Most flexible: easy to change - Most difficult to get right - Most important in consumer decision making process - Most controversial P What affects Price? - Answer- - Manufacturing Costs - Income of Target Market - Product Life Cycle What does the price of a good depend on (5...