Understanding Business, 10th Edition

Published by McGraw-Hill Education
ISBN 10: 007352459X
ISBN 13: 978-0-07352-459-7

Chapter 14 - Developing and Pricing Goods and Services - Developing Workplace Skills - Page 402: 3

Answer

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While products are compared to other products, it is also necessary to note that price impacts the person's expectations regarding the product. After all, the person is not going to care near as much how a cheap product performs as they are for a really expensive product.
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