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.

Question

07-02-2020
Business

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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.

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steffimarish steffimarish · Answer 1 · 2020-02-13T12:19:09+01:00

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.