Which of the following trends in the consumer market has increased the difficulty of setting the right price for a product?
a. The unwillingness of many firms to maintain or regain their market share by cutting prices
b. The decreased availability of bargain-priced private and generic product brands
c. The careful evaluation of each product's price against its value by potential buyers
d. The inability of consumers to do comparison shopping
ANSWER: c
Confronting a flood of new products, potential buyers carefully evaluate the price of each one against the value of existing products. It is one of the trends in the consumer market that has increased the difficulty of setting the right price for a product.
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